SANTA CLARA, CA and OAKLAND, NJ /MARKET WIRE/ -- LumaSense Technologies Inc., a leading provider of sensing solutions, and Mikron Infrared announced that LumaSense Technologies will acquire Mikron Infrared, a leader in the field of infrared noncontact temperature measurement and thermal imaging since 1969. Mikron's board of directors has approved the transaction subject to receipt of regulatory approval.
"Mikron is an exceptional company with very talented people and unique solutions that will significantly strengthen our position in sensor instrumentation for the industrial, medical, and energy markets," said Vivek Joshi, CEO of LumaSense Technologies. "Mikron provides significant opportunities for synergies in research and development, manufacturing, and marketing and sales. We are excited about what this means for our current and future customers as we continue to complement and enhance our offerings through strategic acquisitions and organic growth."
Mikron is an innovative provider of infrared noncontact temperature solutions for the industrial, medical, and energy markets. The company provides customers with a broad range of instruments with exceptional accuracy and capability, from lightweight, convenient, and portable units to process and laboratory instruments and sophisticated, computer-compatible thermal-imaging systems. Mikron is also in the forefront of near- and far-infrared thermal-imaging technology, with systems that include high-speed, high-accuracy, and high-resolution thermal imaging for preventive and predictive maintenance, as well as for process and research applications.
Commenting on the acquisition, Gerry Posner, CEO of Mikron, said, "Becoming part of LumaSense is a great way forward for Mikron, given our complementary offerings and services. We look forward to providing the market with leading-edge solutions as we grow our business globally."
Houlihan Lokey Howard & Zukin acted as financial advisor to Mikron. Arent Fox LLP acted as legal advisor to the company. Jones Day acted as legal advisor to LumaSense.
About LumaSense Technologies Inc.
LumaSense Technologies is a global leader in providing quality sensor instrumentation to the industrial, medical, and energy markets. LumaSense is an operating company with a strategy to acquire other leading sensor instrumentation companies serving similar customers with complementary technologies and products. LumaSense's first two acquisitions are industry pioneers with hundreds of global customers: Luxtron Corp.—fiber-optic temperature-measurement sensors—and Innova AirTech Instruments—trace gas monitoring and analysis. LumaSense is backed by Oak Investment Partners, a leading multi-stage venture capital firm with a 28-year history.
About Mikron
Mikron Infrared Inc., founded in 1969, is a leading global provider of advanced noncontact temperature-measurement products based on infrared technology. It offers a line of infrared temperature-measurement instruments, thermal-imaging systems, radiometers, spectrometers, and blackbody sources for the calibration of infrared thermometers. These products are used in industries such as steel, glass, semiconductor, chemical, power generation, and medical for condition monitoring and preventative and predictable maintenance purposes. Mikron is headquartered in Oakland, NJ, with manufacturing and sales facilities in the U.S. and Western Europe.