Luna Innovations has acquired General Photonics Corporation, a Chino, California-based supplier of optical components, modules and test equipment. General Photonics is focused on the generation, measurement and control of polarized light critical in fiber optic-based applications. The purchase price was $20 million, which includes a potential $1 million earnout payment.
Luna said General Photonics’ component and module product lines are an ideal addition to its own product portfolio. Its polarization measurement instruments are highly complementary to Luna’s line of optical measurement tools.
“We are excited to announce the acquisition of General Photonics, another step in the execution of our core strategy. This acquisition brings a highly complementary product portfolio to the capabilities of Luna’s communications test products,” said Scott Graeff, President and Chief Executive Officer of Luna. “We intend to drive a quick and smooth integration as both company’s products are built on similar electronics, optics and software platforms for high-precision measurement and control of light. This deal further demonstrates our commitment to use capital prudently for transactions that are quickly accretive to our earnings, and it is consistent with our previously stated goal to drive long-term value.”
