Daylight Solutions acquired by Leonardo DRS for $150 million
Daylight Solutions (San Diego, CA), known for its quantum cascade laser (QCL) technology, has been acquired by Leonardo DRS, the U.S. subsidiary of Italian defense giant Leonardo (Rome), for $150 million. Daylight will operate as one of eight Leonardo DRS lines of business, and will maintain its current management and location in San Diego, and current contract relationships.
Mauro Moretti, Leonardo CEO and General Manager, said, “Acquisition of Daylight Solutions is a first significant step forward towards the objectives of growth and development of our Industrial Plan 2017-2021. This acquisition will allow Leonardo DRS to extend the range of advanced solutions to civil and military customers around the world, integrating the Daylight Solutions laser technology in the core business of electro-optical and infrared sensors and systems.”
The acquisition is subject to a number of closing conditions, including approval of the stockholders of Daylight Solutions and the receipt of regulatory approvals, including review by U.S. antitrust authorities and the Committee on Foreign Investment in the Unites States.
“Daylight has established itself as a market leader in scientific lasers, infrared microscopy, and lasers for aircraft survivability utilizing QCL technology,” added Timothy Day, Chairman and CEO of Daylight Solutions. “Together with the added strength of the people and resources of Leonardo DRS, the mission of Daylight Solutions, ‘To Protect With Light’, will be more fully realized and will enhance our proven ability to transition new technologies into commercial products for a wide range of industries.”
Source: Daylight Solutions
Conard Holton
Conard Holton has 25 years of science and technology editing and writing experience. He was formerly a staff member and consultant for government agencies such as the New York State Energy Research and Development Authority and the International Atomic Energy Agency, and engineering companies such as Bechtel. He joined Laser Focus World in 1997 as senior editor, becoming editor in chief of WDM Solutions, which he founded in 1999. In 2003 he joined Vision Systems Design as editor in chief, while continuing as contributing editor at Laser Focus World. Conard became editor in chief of Laser Focus World in August 2011, a role in which he served through August 2018. He then served as Editor at Large for Laser Focus World and Co-Chair of the Lasers & Photonics Marketplace Seminar from August 2018 through January 2022. He received his B.A. from the University of Pennsylvania, with additional studies at the Colorado School of Mines and Medill School of Journalism at Northwestern University.