Mon, Feb. 2, 10:24 AM
- Optoelectronic sensor and test/measurement hardware vendor Advanced Photonix (API +34.5%) is merging with fiber optic sensing and test/measurement equipment firm Luna Innovations (LUNA +0.5%) in an all-stock deal.
- API shareholders will receive 0.32 Luna shares for each API share they own. Between them, the companies possess 200+ patents and patent applications, and had revenue of $49.9M for the 12 months ending Sep. 30.
- The combined company will keep Luna's name, and be headquartered in Roanoke, VA. Luna chief My E. Chung will be its CEO.
LUNA vs. ETF Alternatives
Luna Innovations Inc develops, manufactures & markets fiber optic sensing, test, measurement products. It provides solutions to measure, monitor, protect processes in the aerospace, automotive, energy, composite, telecommunications & defense industries.
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