Mooreland Partners acted as the exclusive financial advisor to Luna Innovations Incorporated (LUNA) on its merger with Advanced Photonix, Inc (API).
The combined company will keep the Luna name and be headquartered in Roanoke, Virginia, and will have a strong product foundation with Luna Innovations' ("Luna") core test & measurement products and Advanced Photonix's ("API") High Speed Optical Receiver (HSOR) and Optosolutions product lines. Stockholders from both companies approved the transaction on 8 May, 2015.
"The merger of API and Luna will result in a much larger, yet more cost efficient company. The combined new company will have the resources necessary to continue investing in growth areas such as Luna's strain and temperature sensing business, and API's next generation of receivers and detectors," says Richard Dalton, Managing Director of Mooreland Partners.
Luna Innovations is a public company composed of scientists, engineers, and business professionals that develop and manufacture next generation technologies and products. The company successfully takes innovative technologies from applied research to product development, and ultimately to the commercial market – driving breakthroughs in the aerospace, automotive, telecommunications, healthcare, energy, and defence sectors.
