FOSS announced that it has acquired North American spectrometer specialist Wasatch Photonics in a deal valued at just under DKK 250 million, or about $39 million. The acquisition marks one of the largest in the history of the Danish family-owned company and reflects its continued investments in photonics and optical technologies.
Founded in 2002, Wasatch Photonics designs and manufactures high-sensitivity compact spectrometers and transmission gratings used in a wide range of scientific and industrial applications. These include Raman spectroscopy, optical coherence tomography (OCT), astronomy, and laser pulse compression. The company serves customers across multiple industries including medical, defense and security, laser manufacturing, and material processing.
Wasatch Photonics’ technology is based in part on its patented high-efficiency volume phase holographic gratings, which enable compact spectrometers and systems designed specifically for Raman spectroscopy. The company also provides gratings for spectral imaging, astronomy, and other advanced photonics applications, as well as spectrometer systems for OCT.
The acquisition brings Wasatch Photonics into the FOSS Photonics portfolio, a group of photonics-focused companies operating under the parent company N. Foss & Co. A/S. According to the companies, the businesses within FOSS Photonics will continue to operate as independent entities while benefiting from the broader group’s resources and strategic direction.
FOSS said the acquisition is its fourth investment in the photonics sector. The company plans to continue expanding the portfolio as it increases its focus on optical components and photonics technologies across multiple industries.
Wasatch Photonics believes the partnership will help accelerate the company’s growth and enable additional initiatives as it expands its technology and market presence.
KEY QUOTES:
“We believe optical components will be a key ingredient in multiple solutions across industries, and we believe FOSS has the capabilities to support and drive this development. The acquisition of Wasatch Photonics, a technologically strong, highly competent company, is a great opportunity to invest further in this area.”
Kim Vejlby Hansen, CEO of FOSS
“The strategic and cultural fit is great. FOSS is a family-owned long-term orientated business with a deep focus on innovation and being first to the market, which is perfectly aligned with Wasatch Photonics. I believe the chances of success are far greater under the FOSS umbrella than any other. We love our technology, we believe in our technology, but we want to accomplish success even faster. Wasatch Photonics is named after a mountain range – metaphorically speaking we are at the base camp, but to reach the summit we need extra oxygen, and we believe FOSS can provide us with that.”
David Creasey, CEO of Wasatch Photonics
