PRESS RELEASE 4.5.2018
For immediate release
Finnish sensor technology company Spectral Engines has signed a contract with a Germany based photonics company m-u-t AG on 3rd of May 2018. m-u-t AG acquires 75% of Spectral Engines’ shares becoming the main shareholder of Spectral Engines. This mutually-beneficial acquisition will expand Spectral Engines’ global footprint and strengthen Spectral Engines growth strategy in the selected sensing application in Smart Industry, Smart Agriculture and Smart Consumer Products. For reasons of competition, it was agreed not to disclose the purchase price.
Spectral Engines is a Finnish company founded in 2014 and headquartered in Helsinki. Spectral Engines' core technology is advanced MEMS-based spectral sensors, which have been developed as a disruptive approach to extremely miniaturized and cost-effective material sensing applications. Spectral Engines won Prism Award of best Photonics innovation in 2016, and EU Horizon Prize as a best Food Scanner technology in 2017 showing the fast progress of company and their technology offering. Spectral Engines is able to offer turn-key material scanner solutions in the industrial and consumers sensing applications.
“We are thrilled of this opportunity to grow and develop our business through this strong partnership. Together we will be strengthening our collective market presence significantly in the future. We have been able to develop very strong sensing solutions covering all expertise from mass-producible MEMS sensors to IoT connected portable devices and combining these with advanced algorithm expertise. This gives us remarkable competitive edge in fast growing material sensing applications. This deal will expand our opportunities to accelerate our market entry in many industrial fields”, comments Jarkko Antila, CEO, Spectral Engines.
For any further questions, please contact:
Jarkko Antila, CEO of Spectral Engines
+358 50 529 8876