News Release Details

Acquisition brings advanced measurement capabilities to Luna’s market leading communications test portfolio

ROANOKE, Va.--(BUSINESS WIRE)--Nov. 2, 2020-- Luna Innovations Inc. (NASDAQ: LUNA) today announced that it has acquired New Ridge Technologies LLC, a Maryland-based developer and manufacturer of fiber optic test and measurement equipment and advanced fiber optic subsystems primarily for telecommunication and polarization-control applications.

New Ridge Technologies’ (NRT) products are based on a combination of ultra-high-speed optoelectronics and a modern software architecture that will bring valuable capabilities to Luna’s already market-leading portfolio of photonic measurement and control products. NRT's portfolio includes products for polarization controllers, polarization and phase tracking, polarimetry and optical spectral analysis for lab use, field measurements and OEM solutions, providing critical proficiencies in several key growth segments for Luna. The integration of NRT’s products with Luna’s portfolio will help customers enhance connectivity by allowing them to build more reliable, faster communications networks to support everything from 5G buildout to the continued expansion of bandwidth inside datacenters.

“This acquisition of New Ridge Technologies and its solutions are a perfect complement to our communications test and measurement portfolio. This is a $6.2 billion space, so this move will act as an accelerator for us in these growth areas,” said Scott Graeff, President and Chief Executive Officer of Luna. “We’re focused on using our capital wisely to scale our market share in the communications test arena. This acquisition ensures that with the combined solution sets, we have the best, most comprehensive optical measurement systems and components our customers need.”

NRT’s core products and technology were developed by founder and CEO, Henry Yaffe, Ph.D. Dr. Yaffe is a thought leader in the field of polarization test and measurement and will bring 35 years of experience in technology strategy and new product development to Luna in a new role as Vice President of Technology for Luna’s Communications Test business unit.

“At New Ridge Technologies, our goal has always been to bring valuable, reliable, fiber optic sub-systems and test and measurement equipment to our client base, so they can provide the best services to their customers,” said Dr. Yaffe. “I am very excited about starting this new chapter as a part of the Luna Innovations team. I believe the future is fiber, and the combination of NRT’s products within the Luna portfolio will help make that future an exciting reality.”

For information regarding Luna’s communications test offerings including the additions from NRT, click here or visit https://lunainc.com/solution/communications-test-and-photonic-control.

About Luna

Luna Innovations Incorporated (www.lunainc.com) is a leader in optical technology, committed to serving its customers with unique capabilities in high-performance, fiber-optic-based sensing, measurement, testing and control products for the aerospace, transportation, infrastructure, security, process control, communications, silicon photonics, defense, and automotive industries, among others. Luna is organized into two business segments, which work closely together to turn ideas into products: Lightwave and Luna Labs. Enabling the future with fiber, Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market.

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Source: Luna Innovations Inc.