Luxium completes purchase of Inrad Optics
US-based Luxium Solutions has acquired Inrad Optics for $19 million in an all-cash deal to boost its market position in the optics and photonics space.
The two companies believe they have "complementary technical expertise in applied material sciences and optics" and that their merger will accelerate their product offerings and provide added value to customers.
Luxium is a specialist in single crystal scintillation materials for radiation detection applications, as well as sapphire and garnet substrates for photonics and power electronics. Meanwhile, Inrad Optics is a vertically integrated manufacturer specialising in glass, crystal, and metal based optical components and assemblies.
“We are excited to collaborate with Inrad Optics’ seasoned team of technical and industry experts. We believe this acquisition will significantly enhance the range and value of solutions we can provide to our customers,” said Michael Cahill, CEO of Luxium Solutions. “Both Luxium and Inrad Optics contribute complementary technical expertise in applied material sciences and optics, empowering our customers’ applications. This partnership marks a significant step in expanding our capabilities, resources, and the added value we can offer to our customers globally.”
