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| LumaSense Technologies, Inc. Enters the Trace-Gas Sensing Market with the Acquisition of Innova AirTech Systems
Acquisition Complements LumaSense’ Temperature Sensing Capabilities in Key Markets
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Santa Clara, California, July 18, 2006 — LumaSense Technologies, Inc., a global sensing and instrumentation company, announced today that it closed the acquisition of Innova AirTech Systems A/S, a leader in the sensing and measurement of trace gases. The company manufactures cost-effective systems for the detection, monitoring, and analysis of a wide range of gases for industrial, energy, medical, environmental and scientific applications. Innova’s proven and differentiated technology, based on infrared photoacoustic and magneto-acoustic spectroscopy methods, operates in a variety of environments to measure gases from ammonia to xylene in trace amounts with a very low detection limit (parts per billion). Innova was established in 1995 as a spin-off from Brьel & Kjaer and is located near Copenhagen, Denmark. Terms of the acquisition were not disclosed.
Vivek Joshi, Chief Executive Officer of LumaSense Technologies, said enthusiastically, “We welcome the Innova team to LumaSense Technologies. With this acquisition, we are positioned to penetrate the very attractive gas-measurement market. Innova brings unique technological capabilities and products that are well suited to address specific opportunities in electrical transmission and distribution, medical breath analysis and anesthesia monitoring, security and environmental monitoring. This new product line is complementary to our optical temperature sensing products from our earlier acquisition of Luxtron Corporation and further expands our portfolio enabling us to provide our customers with more complete sensing solutions. Additionally, it expands our European presence and enhances our ability to serve our customers globally.”
Dr. David Walrod, general partner at Oak Investment Partners, commented: “We are investing in sensing companies with significant growth opportunities. This acquisition brings several such opportunities and synergies, and is a prototype of the acquisitions we make to build a global sensing business.”
About LumaSense Technologies, Inc.
LumaSense Technologies is a fast-growing sensing instrumentation company focused on providing differentiated solutions to customers in the energy, medical, industrial and semiconductor markets. Backed by Oak Investment Partners, Palo Alto, California, the company aims to attain market leadership by identifying and acquiring companies with superior sensing products, and investing in their organic growth. The company’s first acquisition was Luxtron Corporation (www.luxtron.com), Santa Clara, California, a leader in fiber-optic temperature measurement solutions. LumaSense is headquartered in Santa Clara, California, with sales and design offices in the United Kingdom, Denmark and India. For further contact information, please call (408) 727-1600 or visit our web site at www.lumasensetech.com. More information about Innova Airtech Systems and its products can be found at www.innova.dk.
For more information, contact:
Judi Seavers
Luxtron Corporation
Phone: 408-727-1600 x 1902
j.seavers@luxtron.com
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