M-U-T Acquires Spectral Engines

Finnish sensor technology company Spectral Engines has signed a contract with a Germany based photonics company m-u-t on 3rd of May 2018. m-u-t acquires 75 percent of Spectral Engines’ shares becoming the main shareholder. This mutually-beneficial acquisition will expand Spectral Engines’ global footprint and strengthen its growth strategy in the selected sensing application in smart industry, smart agriculture and smart consumer products. For reasons of competition, it was agreed not to disclose the purchase price.

m-u-t of Wedel, Germany, acquires Spectral Engines’ shares becoming the main shareholder of the Finnish company. (Sources: m-u-t / Spectral Engines / photonicsviews.com)

With the participation in Spectral Engines, the m-u-t Group is opening up a new, fast-growing market environment in the B2C sector, which was previously unaddressable with the very successfully integrated companies Tec5, Avantes, Apos and the recently acquired LayTec. After very careful consideration of the opportunities and risks of this transaction, the management board and supervisory board of m-u-t AG have decided to make an acquisition.

Spectral Engines is a Finnish company founded in 2014 and headquartered in Helsinki. Spectral Engines’ core technology is advanced MEMS-based spectral sensors, which have been developed as a disruptive approach to extremely miniaturized and cost-effective material sensing applications. Spectral Engines won Prism Award of best photonics innovation in 2016, and EU Horizon Prize as a best food scanner technology in 2017 showing the fast progress of company and their technology offering. Spectral Engines is able to offer turn-key material scanner solutions in the industrial and consumers sensing applications.

“We are thrilled of this opportunity to grow and develop our business through this strong partnership. Together we will be strengthening our collective market presence significantly in the future. We have been able to develop very strong sensing solutions covering all expertise from mass-producible MEMS sensors to IoT connected portable devices and combining these with advanced machine computing algorithm expertise. This gives us remarkable competitive edge in fast growing material sensing applications. This deal will expand our opportunities to accelerate our market entry in many industrial fields”, comments Jarkko Antila, CEO of Spectral Engines.

m-u-t AG will acquire the remaining 25 percent of the company in 2023. The purchase price for the remaining shares will result from corresponding multiples of future business figures. (Sources: m-u-t / Spectral Engines)

Links: Spectral Engines Oy, Helsinki, Finland • m-u-t AG Meßgeräte für Medizin- und Umwelttechnik, Wedel, Germany

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