Leonardo has agreed to buy 100 percent equity stake in quantum cascade laser platforms maker Daylight Solutions for approximately $150 million through its U.S. subsidiary DRS in a push to grow dual-use integrated technology offerings for civil and military clients.
Mauro Moretti, CEO and general manager of Leonardo, said in a statement released Tuesday the company made the acquisition to meet the development and growth objectives of its industrial plan for 2017 through 2021.
Moretti added that the deal would help expand the range of the firm’s infrared sensor systems through the integration of Daylight Solutions’ laser technology platforms.
Leonardo will operate Daylight Solutions as one of DRS’ eight lines of business and that Daylight founders Paul Larson and Timothy Day will also join DRS upon closure of the transaction.
The deal also includes an earn-out that will be issued to Daylight stockholders once operating and financial targets for fiscal 2017 are met.
Daylight Solutions has introduced aircraft survivability products designed for U.S. military customers and its scientific instrumentation business segment plans to launch new analytical and diagnostic platforms for medical treatment and research applications.