Italy’s Leonardo, on June 26, said its United States-based subsidiary Leonardo DRS completed its $150 million acquisition of Daylight Solutions, a deal which adds to its business base in America and provides it with new laser technology.
“Innovation is at the core of Leonardo DRS and Daylight Solutions brings an exceptional record of technology advancements in the growing field of infrared laser systems,” William Lynn, CEO of Leonardo DRS, said in a statement.
Leonardo DRS plans to integrate Daylight’s quantum cascade laser technology into its core electro-optical and infrared sensors and systems.
Daylight Solutions is based in California. Leonardo first announced the deal in March, saying at the time the small company is poised for significant growth given its position on new U.S. military aircraft survivability systems that are rolling out.
Leonardo also said that the acquisition will expand technology solutions for medical and industrial customers.
Daylight’s financial advisor on the deal was Mooreland Partners.