Roanoke-based Luna Innovations Inc. acquires Micron Optics
Roanoke-based Luna Innovations Inc., an advanced fiber-optic technology company, has acquired Micron Optics Inc.
Atlanta-based Micron provides optical components and laser-based measurement technology.
Financial details on the deal were not disclosed.
Micron Optics’ sensing and measurement solutions are used in many areas including the automotive and aerospace industries. Luna noted those industries represent its core customer base.
“This acquisition exemplifies execution of the strategy we’ve developed. The acquisition of Micron Optics fits squarely within our core technology platform and target markets, and we believe will act as a catalyst to accelerate growth,” Scott Graeff, Luna’s president and CEO, said in a statement. “We are focused on scaling our two vertical markets – structural testing and sensing as well as communications testing – with a particular emphasis on the growing aerospace and automotive areas.
Luna said the combined product portfolio of the two companies has the potential to provide customers with better capabilities and broader offerings.
The acquisition also is expected to position Luna to better penetrate its existing markets through access to an expanded product portfolio and broader customer base.