Luna Innovations Acquires OptaSense
Luna Innovations Inc. has acquired OptaSense Holdings Ltd., a QinetiQ company, for £29 million (just over $39 million) in a cash transaction. OptaSense specializes in fiber optic distributed monitoring solutions for pipelines, oilfield services, security, highways, railways, and power and utilities monitoring systems. According to a press release from Luna Innovations, the acquisition is expected to be accretive in 2021, and is expected to create the world’s largest fiber optic sensing company.
The acquisition provides Luna with distributed acoustic sensing intellectual property and products, adding to the company’s existing portfolio, as well as adding algorithm development expertise. OptaSense will continue to operate under its existing brand for the foreseeable future, and its employees will remain with the company.
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