Luna Innovations Acquires New Ridge Technologies
November 02 2020 - 8:30AM
Business Wire
Acquisition brings advanced measurement
capabilities to Luna’s market leading communications test
portfolio
Luna Innovations Inc. (NASDAQ: LUNA) today announced that it has
acquired New Ridge Technologies LLC, a Maryland-based developer and
manufacturer of fiber optic test and measurement equipment and
advanced fiber optic subsystems primarily for telecommunication and
polarization-control applications.
New Ridge Technologies’ (NRT) products are based on a
combination of ultra-high-speed optoelectronics and a modern
software architecture that will bring valuable capabilities to
Luna’s already market-leading portfolio of photonic measurement and
control products. NRT's portfolio includes products for
polarization controllers, polarization and phase tracking,
polarimetry and optical spectral analysis for lab use, field
measurements and OEM solutions, providing critical proficiencies in
several key growth segments for Luna. The integration of NRT’s
products with Luna’s portfolio will help customers enhance
connectivity by allowing them to build more reliable, faster
communications networks to support everything from 5G buildout to
the continued expansion of bandwidth inside datacenters.
“This acquisition of New Ridge Technologies and its solutions
are a perfect complement to our communications test and measurement
portfolio. This is a $6.2 billion space, so this move will act as
an accelerator for us in these growth areas,” said Scott Graeff,
President and Chief Executive Officer of Luna. “We’re focused on
using our capital wisely to scale our market share in the
communications test arena. This acquisition ensures that with the
combined solution sets, we have the best, most comprehensive
optical measurement systems and components our customers need.”
NRT’s core products and technology were developed by founder and
CEO, Henry Yaffe, Ph.D. Dr. Yaffe is a thought leader in the field
of polarization test and measurement and will bring 35 years of
experience in technology strategy and new product development to
Luna in a new role as Vice President of Technology for Luna’s
Communications Test business unit.
“At New Ridge Technologies, our goal has always been to bring
valuable, reliable, fiber optic sub-systems and test and
measurement equipment to our client base, so they can provide the
best services to their customers,” said Dr. Yaffe. “I am very
excited about starting this new chapter as a part of the Luna
Innovations team. I believe the future is fiber, and the
combination of NRT’s products within the Luna portfolio will help
make that future an exciting reality.”
For information regarding Luna’s communications test offerings
including the additions from NRT, click here or visit
https://lunainc.com/solution/communications-test-and-photonic-control.
About Luna
Luna Innovations Incorporated (www.lunainc.com) is a leader in
optical technology, committed to serving its customers with unique
capabilities in high-performance, fiber-optic-based sensing,
measurement, testing and control products for the aerospace,
transportation, infrastructure, security, process control,
communications, silicon photonics, defense, and automotive
industries, among others. Luna is organized into two business
segments, which work closely together to turn ideas into products:
Lightwave and Luna Labs. Enabling the future with fiber, Luna’s
business model is designed to accelerate the process of bringing
new and innovative technologies to market.
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version on businesswire.com: https://www.businesswire.com/news/home/20201102005236/en/
Media Contact: Jane Bailey
Phone: 540-525-0364 Email: baileyj@lunainc.com
Investor Contact: Allison
Woody Phone: 540-769-8465 Email: woodya@lunainc.com
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