Luna Innovations Acquires General Photonics, A Leader in Characterization and Control of Light for Photonics Applications
04 Março 2019 - 9:00AM
Business Wire
Acquisition will accelerate growth in Luna’s
communications test segment
Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in
advanced fiber optic-based technology, today announced that it has
acquired General Photonics Corporation, a Chino, California-based
leading provider of innovative components, modules and test
equipment focused on the generation, measurement and control of
polarized light critical in fiber optic-based applications. The
purchase price was $20 million, which includes a potential $1
million earnout payment. General Photonics provides customers with
advanced technological solutions across a variety of industries,
including those within Luna’s strategic markets.
General Photonics’ component and module product lines are an
ideal addition to Luna’s overall product portfolio. Its
polarization measurement instruments are highly complementary to
Luna’s industry-leading line of optical measurement tools.
Integrated into Luna’s Lightwave division, General Photonics’
product portfolio will add both breadth and depth to Luna’s
offering, and facilitate greater penetration within Luna’s target
customer base. In addition, several of Luna’s instruments already
incorporate General Photonics’ products, creating vertical
integration synergies.
“We are excited to announce the acquisition of General
Photonics, another step in the execution of our core strategy. This
acquisition brings a highly complementary product portfolio to the
capabilities of Luna’s communications test products,” said Scott
Graeff, President and Chief Executive Officer of Luna. “We intend
to drive a quick and smooth integration as both company’s products
are built on similar electronics, optics and software platforms for
high-precision measurement and control of light. This deal further
demonstrates our commitment to use capital prudently for
transactions that are quickly accretive to our earnings, and it is
consistent with our previously stated goal to drive long-term
value.”
Vice President and General Manager of Luna’s Lightwave Division,
Brian Soller, Ph.D., said, “We have created a broader, stronger
product portfolio that is centered around what we do best: measure
and manage light in optical fiber. The complementary nature of our
combined product lines will allow Luna to leverage existing
channels to market and provide solutions across more of the value
chain in our key target markets. We are now in a better position to
service our customers’ measurement needs in a rapidly evolving
market, where the need for high-quality measurement and control of
light is growing.”
“The combination of Luna and General Photonics clearly
strengthens both companies and creates greater opportunities to
increase value for our customers,” said Steve Yao, Chief Executive
Officer, President and Founder of General Photonics. “I can’t think
of a better place for my company to continue the success we’ve
created. And with access to the incremental engineering and sales
resources available at Luna, we will be able to further accelerate
our growth.”
Conference Call
Information
Luna will discuss this announcement on a previously announced
fourth-quarter and year-end fiscal 2018 conference call at 8:30 am
(EST) today. The call can be accessed by dialing 844.578.9643
domestically or 270.823.1522 internationally prior to the start of
the call. The participant access code is 8384348. Investors are
advised to dial in at least five minutes prior to the call to
register. The conference call will also be webcast live over the
Internet. The webcast can be accessed by logging on to the
“Investor Relations” section of the Luna website, www.lunainc.com,
prior to the event. The webcast will be archived under the
“Webcasts and Presentations” section of the Luna website for at
least 30 days following the conference call.
About Luna
Luna Innovations, Incorporated (www.lunainc.com) is a leader in
optical technology, providing unique capabilities in
high-performance, fiber optic-based, test products for the
telecommunications industry and distributed fiber optic-based
sensing for the aerospace and automotive industries. Luna is
organized into two business segments, which work closely together
to turn ideas into products: a Technology Development segment and a
Products and Licensing segment. Luna’s business model is designed
to accelerate the process of bringing new and innovative
technologies to market.
Forward-Looking
Statements
The statements in this release that are not historical facts
constitute “forward-looking statements” made pursuant to the safe
harbor provision of the Private Securities Litigation Reform Act of
1995 that involve risks and uncertainties. These statements include
Luna’s expectations regarding the expected benefits of the
acquisition, including the ability of the acquisition to accelerate
the company’s growth, the integration of General Photonics’
products into Luna’s product lines, the ability to better deliver
value to customers and address their needs and the company’s
business strategies. Management cautions the reader that these
forward-looking statements are only predictions and are subject to
a number of both known and unknown risks and uncertainties, and
actual results, performance, and/or achievements of Luna may differ
materially from the future results, performance, and/or
achievements expressed or implied by these forward-looking
statements as a result of a number of factors. These factors
include, without limitation, uncertainties regarding integration of
the companies’ respective employee bases, service offerings and
business operations, potential adverse reactions or uncertainties
regarding the acquisition among the companies’ customers, potential
unknown liabilities and unforeseen expenses associated with the
acquisition, potential performance shortfalls as a result of the
diversion of management’s attention caused by completing the
acquisition and integrating the companies’ operations and other
risks and uncertainties set forth in Luna’s periodic reports and
other filings with the Securities and Exchange Commission (“SEC”).
Such filings are available on the SEC’s website at www.sec.gov and
on Luna’s website at www.lunainc.com. The statements made in this
release are based on information available to Luna as of the date
of this release and Luna undertakes no obligation to update any of
the forward-looking statements after the date of this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190304005401/en/
Investor Contacts:Jane BombaLuna Innovations
IncorporatedPhone: 303-829-1211Email: IR@lunainc.com
Sally J. CurleyLuna Innovations
Incorporated614-530-3002IR@lunainc.com
Luna Innovations (NASDAQ:LUNA)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Luna Innovations (NASDAQ:LUNA)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024