Luna Innovations Incorporated has completed the transformative acquisition of OptaSense Holdings, Ltd. from QinetiQ. OptaSense will operate as a fully owned subsidiary while maintaining its existing brand identity. The strategic rationale for the combination is to create a global powerhouse in the distributed fiber sensing market by merging OptaSense’s market,leading distributed acoustic sensing (DAS) technology with Luna’s existing suite of optical products. The integration is expected to be accretive to non,GAAP earnings in 2021. This acquisition allows the combined group to rapidly expand into high,growth sectors (including security, smart infrastructure, and oil and gas) while establishing a cost,effective international operational presence and strengthening its intellectual property portfolio through over 150 added patents.

OPTASENSE, which reported an EBITDA margin of LOGIN in 2020, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with 13.0x currently observed in the TMT (Tech, Media, Telecom) sector.

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