Luna Innovations, a developer of advanced optical technology, announced it has acquired OptaSense Holdings, a QinetiQ company, for 29 million British Pounds in cash. OptaSense is a recognized market leader in fiber-optic distributed monitoring solutions for pipelines, oilfield services, security, highways, and railways, as well as power and utilities monitoring systems. The combination is expected to create the world’s largest fiber-optic sensing company.
The acquisition provides Luna with distributed acoustic sensing (DAS) intellectual property and products, which complement Luna’s existing portfolio, and provides algorithm-development expertise, critical for AI and machine learning. OptaSense’s research and development talent and highly skilled salesforce, combined with more than 150 active and pending patents, will also enhance Luna’s existing experienced team and broaden its intellectual property portfolio.
OptaSense will become a fully owned subsidiary of Luna Innovations, while continuing to operate under its existing brand for the foreseeable future. OptaSense employees will remain within the company, with offices in the United Kingdom, Dubai, the United States and Canada.
B. Riley Securities served as financial advisor and Cooley LLP served as legal advisor to Luna.
