On December 3 2020, QinetiQ Group Plc ("QinetiQ") announced it has sold OptaSense Holdings Ltd ("OptaSense"), a global leader in distributed fiber optic sensing solutions, to Luna Innovations Inc. ("Luna") for a cash consideration of £29 million.
Duff & Phelps served as the exclusive financial advisor to QinetiQ in connection with the transaction.
Nigel Major, Group Director of M&A at QinetiQ Group Plc, commented: "We are delighted to have completed the sale of OptaSense to Luna and are very pleased with the outcome. Duff & Phelps did a great job in articulating the value of the technology and attracting strong interest from strategic bidders worldwide. Their integrated M&A and due diligence teams worked as a seamless team and made a difference in enabling us to achieve the result we did.”
Paul Teuten, Managing Director at Duff & Phelps, said: "We are delighted to have advised QinetiQ on the sale of OptaSense to Luna. OptaSense is a world leader in fiber optic sensing and we knew it would be attractive to many parties; we are pleased that it has found a good home with Luna Innovations. This transaction highlights our strength as a leading M&A advisor in the industrial technology sector and underscores our deep expertise in successfully executing cross-border transactions for corporate clients."
QinetiQ is a FTSE 250 science and engineering company, operating primarily in the defense, security and critical infrastructure markets. QinetiQ works in partnership with its customers to solve real world problems through innovative solutions delivering operational and competitive advantage. Ashurst served as legal advisor to QinetiQ.
OptaSense, a subsidiary of QinetiQ, is a global leader in distributed acoustic sensing (DAS) technology for the protection of critical high-value assets by detecting, locating and classifying multiple threats, such as leaks, intrusions and breaches. Its disruptive sensor technology is implemented across multiple vertical markets, including pipelines, oil and gas, border and perimeter security, transportation, and power and gas utilities.
About Luna Innovations Inc.
Luna Innovations Inc. is a leader in optical technology that provides unique capabilities in high-performance, fiber optic-based test products for the telecommunications industry and distributed fiber optic-based sensing for the aerospace and automotive industries. Luna is organized into two business segments, Lightwave and Luna Labs, which work closely together to turn ideas into products. Luna is listed on Nasdaq. Cooley LLP served as legal advisor to Luna.
Comprehensive support throughout mergers and acquisitions and other corporate transactions.
Middle-market M&A advisory differentiated by industry expertise and superior deal execution.
Industrials expertise for middle-market M&A transactions.
Transaction Advisory Services
Seamless analytical advisory through the deal continuum, from transaction origination to closing.
Financial Sponsors Group
Dedicated coverage and access to M&A deal-flow for financial sponsors.
Private Capital Markets – Debt Advisory
Senior, subordinated and mezzanine debt and venture/private equity for a wide range of transactions.
Fairness and Solvency Opinions
Independent opinions for boards of directors and special committees.
has agreed to acquire
a portfolio company of
has been acquired by
Leading provider of charging solutions for electric vehicles
has formed a strategic partnership with
a portfolio company of
has been acquired by
has entered into an agreement to sell its Life Sciences division to
Duff & Phelps Advised Cristian Lay on its acquisition of Grupo Gallardo to KKR on the standstill agreement between all lenders, assist with cash management, financial due diligence and operational due diligence.
Forecasting the Power Market
Global Telco Infrastructure Update – Q4 2020
Duff & Phelps Recommended U.S. Equity Risk Premium Decreased from 6.0% to 5.5%, Effective December 9, 2020
European Industry Market Multiples (As of September 30, 2020)
Duff & Phelps Announces CEO Transition
Duff & Phelps Expands Asia and Caribbean Restructuring Offering With Acquisition of Borrelli Walsh
Duff & Phelps Strengthens German M&A Advisory Practice With the Appointment of Frank Bretag
Duff & Phelps Strengthens Transaction Advisory Services Practice with Appointment of New Managing Director