L3 invests in Peak Nano Optics
New York, NY-based L3 Technologies announced on February 28 that it has entered into an agreement with the Dallas-based nanotechnology firm, Peak Nano Optics, LLC (Peak Nano), to acquire a minority stake in the company. Peak Nano’s nanolayer gradient refractive index (GRIN) technology allows for the design and manufacture of lenses with greater electro-optical performance in visible to near-infrared applications at a fraction of the size, weight and volume of currently available complex lenses.
“As part of our strategic innovation roadmap, we are continuing to develop and invest in promising new technologies that will contribute to top-line growth in the years ahead,” said Christopher Kubasik, L3’s chief executive officer and president. “Our investment in Peak Nano provides L3 with access to groundbreaking optics technology that will strengthen our existing product lines and broaden the capabilities we offer to our military ISR and commercial customers.”
The transaction was completed on February 6, 2018, and the terms were not disclosed. The business will continue to operate as an independent entity under the name Peak Nano Optics and will work closely with L3’s Sensor Systems organization on ongoing development investments.
“Nanolayer GRIN technology enables L3 to rapidly adapt to customer demand for greater optical performance across a broad range of our capabilities, including multi-domain ISR systems,” added Jeff Miller, L3’s senior vice president and president of its Sensor Systems business segment.
Based in Dallas, Texas, with a low-rate production facility in Cleveland, Ohio, Peak Nano is completing the design and development of a high-volume, robotic manufacturing process and plans to establish a full-rate manufacturing facility at a location in the Dallas area of the North Texas metroplex.
“We’re thrilled to have L3 as both an equity and development partner,” said Jim Welsh, chief executive officer of Peak Nano. “L3 operates as an industry leader in many markets where our lens technology makes a tremendous impact on system-level performance. This investment also allows us to dramatically accelerate our efforts in much larger adjacent markets, such as virtual reality and augmented reality, where we expect to shape the next generation of optical platform solutions.”