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  • Monday, April 29, 2024

Leonardo DRS Completes $150M Daylight Solutions Buy


Leonardo DRS has wrapped up its acquisition of quantum cascade laser platforms manufacturer Daylight Solutions for approximately $150 million.

The transaction received regulatory approvals and clearance from Daylight Solutions’ stockholders, Leonardo said Monday.

Leonardo DRS agreed to purchase 100 percent equity stake in Daylight Solutions in March in a move to grow dual-use integrated technology offerings for civil and military customers.

William Lynn, CEO of Leonardo DRS, said the acquisition would bring technology developments in the field of infrared laser systems.

Investment bank Mooreland Partners acted as financial adviser to Daylight Solutions in the transaction.

Daylight Solutions founders Paul Larson and Timothy Day will join Leonardo DRS.

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