EOS Divests SatCom Subsidiary to Cohort plc: Week in Brief: 11/29/24
Electro Optic Systems (EOS), a developer of remote weapon systems, has entered into a binding agreement to divest its naval satellite communications subsidiary, EM Solutions, to Cohort plc, a defense technology group, for an implied enterprise value of AUD $144 million ($93.6 million). EM Solutions has operated predominantly as a standalone business since being acquired in 2019 to support the SpaceLink operations, which EOS has since exited. According to EOS, the proposed transaction aligns with its transformation strategy to focus on its core product offerings in the areas of remote weapon systems, high energy laser weapons, and space control.
A satellite communications system produced by EM Solutions. Courtesy of EOS.
ORLANDO, Fla. — Industrial cleaning laser systems developer Laser Photonics Corporation will be transitioning into an operational holding company with wholly owned subsidiaries under the name LASE Holdings. LASE Holdings will be based out of a corporate office in Lake Mary, Florida. The projected subsidiaries under LASE Holdings are Laser Photonics, CMS Laser, Control Micro Systems, LP Semiconductor, 3D AXS, and LP Media Group. Control Micro Systems was acquired by the company for $1.05 million earlier this month.
LANNION, France — LUMIBIRD, a laser technologies company, is currently exploring the potential sale of its medical division. The division designs and produces medical diagnostic and treatment systems for ophthalmology. The company has stated that it will communicate in due course about a potential sale in accordance with applicable regulations.
TORONTO — Designer and developer of photonic integrated circuits POET Technologies Inc. intends to expand its optical engine production capacity in Malaysia. The company signed a binding memorandum of understanding with Quanzhou Sanan Optical Communication Technology Co., Ltd. (SAIC) to transfer to POET its 24.8% stake in the joint venture Super Photonics Xiamen (SPX), along with all the production equipment previously leased by SAIC to SPX. Concurrently, the company has been negotiating with several contract manufacturers in Malaysia to become the focal point for POET’s wafer-scale assembly of optical engines and expects to sign an agreement this month and to start operations by the end of the year.
SANTA CLARA, Calif. — Agilent Technologies Inc., an analytical and clinical laboratory technologies developer, has entered into a new organizational structure to accelerate the company’s operational transformation to drive higher growth through an enterprise strategy. The structure includes the formation of three new business groups. The Life Sciences and Diagnostics Markets Group is primarily focused on pharma, biopharma, clinical, and diagnostics end markets and will be headed by Simon May. The Applied Markets Group is primarily focused on the food, environmental, forensics, chemicals, and advanced materials markets and will be headed by Mike Zhang. Lastly, the Agilent CrossLab Group is focused on supporting the company’s customers in its end markets and will be headed by Angelica Riemann.
CENTENNIAL, Colo. — Industrial blue laser technology company NUBURU, Inc. has received a notice of non-compliance from the NYSE American Market indicating that the company has become noncompliant with the continued listing standard set forth in Section 803B(2)(c) of the NYSE American Company Guide, because the company’s audit committee is no longer comprised of at least two independent directors. The company has until Jan. 4, 2025 to regain compliance and its board is undertaking a process to identify two independent directors within the permitted time frame. NUBURU received its first NYSE deficiency letter in January due to its common stock being deemed too low. NUBURU has most recently secured a total of $105 million through a comprehensive funding program and an equity line of credit in October in a bid to create long-term, sustainable growth commercialization opportunities.
(From left) RAITH CFO Christian Ohm, Xnovo CEO Erik Lauridsen, and RAITH CEO Michael Steigerwald. Courtesy of RAITH.
DORTMUND, Germany — RAITH, a developer of maskless nanofabrication and characterization systems and solutions, has acquired Xnovo, an imaging solutions company. The company stated the acquisition will enable it to provide its customers more solutions in the fields of failure analysis and metrology.
(From left) Head of tesa BU Automotive David Caro, tesa technology board member Ingrid Sebald, and ZEISS Microoptics partnership management head Viktor Schutz. Courtesy of ZEISS.
JENA, Germany — ZEISS and tesa, a manufacturer of adhesive tapes and self-adhesive product solutions, have entered into a partnership to strengthen holographic technology. The companies have been cooperating since 2022 in the fields of holography and customized adhesive solutions. The new partnership will leverage tesa’s optical clear adhesives for holographic applications from ZEISS Microoptics.
TÄBY, Sweden — Distributor of life science products Europa Biosite has acquired supplier of life science products and services AMSBIO. The company said the addition of AMSBIO will further expand the group’s offerings in biospecimens, stem cell research, and regenerative medicine as well as in the U.S. market.
MANCHESTER, England — Smartkem, a developer of organic thin-film transistors, has partnered with AUO, a Taiwanese display manufacturer, to jointly develop a rollable, transparent microLED display using Smartkem's technology. The display will be manufactured via the processing of Smartkem’s organic thin-film transistors directly on top of the microLEDs, eliminating the need for mass transfer and laser welding processes required by existing technology. The project will commence on Jan. 1, 2025 and has been awarded a grant from the 2024 Taiwan-U.K. Research & Development Collaboration, supported by The Taiwanese Ministry of Economic Affairs and Innovate U.K., part of U.K. Research and Innovation.
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