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October 6, 2005 Blacksburg, VA -- Luna Innovations, a technology development company focused on sensing, advanced materials, and systems integration, has acquired Luna Technologies, a venture capital-backed developer and manufacturer of test and measurement systems for fiber-optic components and assemblies. The acquisition closed on September 30, 2005.
According to a press release, Luna Technologies was formed in 2000 and funded by venture capital investments in 2000 and 2003, totaling approximately $12 million, with Columbia Capital, Envest Ventures, Novak Biddle Venture Partners, and SoundView Technology as lead investors. Since 2002, the company has operated in the communications test and measurement industry, receiving numerous awards for technological innovation and strategic leadership. The company says it products enable optical component analysis to increase user productivity through improved component characterization, while reducing development processes and production costs.
"Both companies share technologies and will benefit from synergies created by combining resources," remarks Dr. Kent Murphy, founder and CEO of Luna Innovations. "This acquisition brings a wealth of additional optical sensing technology and talent into the Luna Innovations fold."
"Our goal is to continue driving the technology curve and to be actively developing solutions that increase our customer's bottom line," adds John Goehrke, CEO of Luna Technologies. "Through this acquisition, we take advantage of the complementary strengths to improve market reach and visibility in the optical test and measurement industry."
The companies say they intend to integrate their technologies, product lines, and personnel, to create a "fluid, customer-responsive organization." Luna Technologies, now a division of Luna Innovations, will keep its name and brand identity.
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