Luna Innovations acquires Silixa

1 minute read
21 December 2023
Client work

Team:

Frank Sur, Melanie Condic, Arielle Sie-Mah, Ian Macdonald, Elad Gafni, W. David Petras, Jada Perkins

On December 21, 2023, Luna Innovations Incorporated (NASDAQ: LUNA), a global leader in advanced fiber optic-based technology, announced the strategic acquisition of Silixa, a UK-based leader in distributed fiber optic sensing solutions.

The purchase price consists of US$21.5 million in upfront cash consideration and up to an additional US$16.5 million in earnouts payable in 2025 upon the achievement of certain 2024 financial performance milestones. The transaction was funded with a portion of the proceeds from a strategic investment in Luna Innovations by White Hat Capital Partners.

Gowling WLG was Canadian counsel to Luna Innovations on this acquisition with a team led by Frank Sur and Melanie Condic (corporate), and that included Arielle Sie-Mah (employment), Ian Macdonald and Elad Gafni (competition) and David Petras (client relationship), with the assistance of student-at-law Jada Perkins.

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