Luna Innovations acquires General Photonics

Luna Innovations Inc. (Roanoke, Va., U.S.), provider of advanced fiber optic-based technology, recently announced that it has acquired General Photonics Corp. (Chino, Calif., U.S.), a provider of innovative components, modules and test equipment focused on the generation, measurement and control of polarized light in fiber optic-based applications. The purchase price was reportedly $20 million, which includes a potential $1 million earnout payment. General Photonics provides advanced technological solutions across a variety of industries, including those within Luna’s strategic markets.

According to Luna, General Photonics’ polarization measurement instruments will be a complementary addition to Luna’s line of optical measurement tools. Integrated into Luna’s Lightwave Division, General Photonics’ product portfolio are said to add breadth and depth to Luna’s offerings and facilitate greater penetration within Luna’s target customer base. Several of Luna’s instruments also already incorporate General Photonics’ products, Luna says.

“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,” says Scott Graeff, president and CEO 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.”

“We have created a broader, stronger product portfolio that is centered around what we do best: measure and manage light in optical fiber,” says Brian Soller, Ph.D., vice president and general manager of Luna’s Lightwave Division. “The complementary nature of our combined product lines will allow Luna to leverage existing channels to market and provide solutions across more of the value chain in our key target markets. We are now in a better position to service our customers’ measurement needs in a rapidly evolving market, where the need for high quality measurement and control of light is growing.”

“The combination of Luna and General Photonics clearly strengthens both companies and creates greater opportunities to increase value for our customers,” says Steve Yao, CEO, president and founder of General Photonics. “I can’t think of a better place for my company to continue the success we’ve created. And with access to the incremental engineering and sales resources available at Luna, we will be able to further accelerate our growth.”