Luxium Solutions to Acquire Inrad Optics
Luxium Solutions, a provider of advanced engineered materials and solutions, has entered into a definitive agreement to acquire Inrad Optics, Inc., a provider of advanced optical components, assemblies, and systems, in an all-cash transaction that values Inrad Optics at approximately $19 million.
According to Luxium CEO Michael Cahill, the acquisition will provide complementary additions to Luxium's portfolio. Inrad CEO Amy Eskilson said that the merger will enable enhanced flexibility and additional financial resources to drive future growth and capture market opportunities.
Following the merger, Inrad Optics will be able to accelerate investments in technologies that are vital to development of next generation bent X-ray crystal monochromators for spectroscopy and plasma fusion applications, and large-format, ultra-high precision optical components and assemblies.
Luxium entered into an agreement to acquire monolithic optics company PLX Inc. and its subsidiary PLX UK, Ltd last month, making the acquisition from an investor group led by Tinicum. The PLX acquisition adds photonics assembly solutions and sub-system and system integration capabilities, including solutions for emerging lidar, laser tracking, and free space optics applications to Luxium's portfolio.
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