NKT Photonics divests its LIOS sensing division to Luna Innovations
With the divestment NKT Photonics fully focuses on its core business within lasers and fibre optic solutions to the medical & life science, quantum and nano technology, industrial, and aerospace & defence markets. The divested activities comprise sales, development and production including the main site in Cologne, Germany, and the sales office in Portland, USA, and covers 66 employees. The divestment is effective as of March 10, 2022.
Luna Innovations Incorporated is a leader in optical technology, providing unique capabilities in high-performance, fibre optic-based, test products for the telecommunications industry and distributed fibre optic-based sensing for the aerospace and automotive industries.
NKT Photonics CEO Basil Garabet says: „The LIOS Sensing business has a great potential and future, however, the synergies with our fast-growing laser and fibre business are limited in terms of business model, technology, and markets. We are delighted to provide the LIOS team with a new home at Luna dedicated to sensing solutions, and to focus NKT Photonics on our core business.“
The transaction does not change the 2022 financial outlook for NKT Photonics. In 2021, NKT Photonics revenues excluding the LIOS sensing business were EUR 68m.