May 2025 Mergers, Acquisitions and Investment Highlights

Photonics is experiencing a large boom leading to thousands of inventions and new applications. Mergers and Acquisitions (M&As) and investments play a critical role in sustaining the growth of the photonics industry. Read our summary of M&A deals and investments in the photonics industry for May 2025.

Mergers & Acquisitions in Photonics

A total of 17 M&As were recorded for this month world-wide. Six (6) of these were acquiring companies based in Europe while three (3) European companies were acquired. In two of these transactions, both European companies were involved. First, Germany-based SurFunction, a deep-and green-tech pioneer and laser-based surface enhancement specialist, acquired surface coating technology and fellow German company Surcoatec. The other one is the deal closed by two French companies: SERMA Ingénierie and PISÉO, an acquisition which strengthens the expertise in optical and photonic technologies of SERMA Ingénierie.

Of course, EPIC members were among those involved either as acquiring and/or acquired company. As earlier mentioned, EPIC member PISÉO was acquired by another France-based company SERMA Ingénierie. Fiber Optics Group, the mother company of EPIC Member SEDI ATI, acquired FiberTech Optica from Canada to “strengthen its global market position in optical fiber assemblies and associated photonic systems.” HEF PHOTONICS subsidiary Abrisa Technologies likewise acquired fellow American company Agama Glass Technologies, a leading etched anti-glare glass and technical glass processing company. Lastly, VIGO Photonics, a long-time member of EPIC from Poland, intensified its expansion in the USA by acquiring an undisclosed American company involved in production of infrared detectors.

Rounding up the M&As for this month are some significant acquisitions from all over the world:

• AMETEK (USA), a leading industrial technology solutions provider, acquired 3D measurement and imaging solutions specialist FARO Technologies (USA) for $920 million.
• Leidos (USA) acquired Kudu Dynamics (USA) in a transaction valued at $300 million aimed at improving its “rapid scaling of artificial intelligence (AI)-enabled cyber capabilities for defense, intelligence and homeland security customers.”
• Rocket Lab (USA), a specialist in launch services and space systems,   acquired for $275 million Geost (USA), an electro-optical (EO) sensors and sensor payloads producer.
• Sodick (Japan) acquired Prima Additive (Italy), resulting to the separation of the latter from the Prima Industrie Group and the creation of a new entity “Prima Additive by Sodick”.
• Gooch & Housego (United Kingdom) acquired complex optical systems and thin film coatings specialist Global Photonics (USA) to strengthen its Aerospace & Defence capabilities.

Investments

Photonics companies keep on securing much-needed funding this May. All in all, there are twenty three (23) investments grabbed by photonics companies. Eight (8) of these were secured by companies based in Europe, including the following:

• Lightsonic (Norway): €3.3 million seed investment to “advance fiber optic sensing solutions for water utilities and critical infrastructure monitoring.”
• Optics11 (The Netherlands): €17 million raised to accelerate “advanced fiber optic sensing solutions.”
• Space Forge (United Kingdom): secured £22.6 million in Series A funding that will “revolutionise industrial materials using space.”
• Astrolight (Lithuania): raised €2.8 million to help its development of its “laser-based end-to-end communication platform that securely connects satellites to Earth.”
• Quobly (France): secured €21 million to speed up the “industrial production of the first silicon quantum chip with 100 physical qubits (Q100T Project).”
• EnduroSat (Bulgaria): raised €43 million to scale up production Endurance ESPA-class satellites.
• Cajo Technologies (Finland): secured significant investment to hasten the global expansion of “sustainable laser marking solutions.”

Also, major funding were snagged by players in the photonics industry in other parts of the world. Israel-based quantum software company Classiq Technologies got $110 million funding in a Series C round, bringing its total raised funding to $173 million. On the other side of the globe, US company Avicena, specialist in ultra-low power high-density microLED-based interconnects, secured $65 million in Series B round to raise its capital to $120 million. Another American company, Firefly Aerospace, secured $50 million from lone investor Northrop Grumman to accelerate the production of “Eclipse™”, a medium launch vehicle that both companies are co-developing.

Of course, EPIC members were actively involved in investment transactions for the month of May. US-based Luminar, the parent company of long-time EPIC member FREEDOM PHOTONICS, obtained a $200 million capital commitment. imec.xpand, the venture capital arm of EPIC member imec, is one of the investors leading the latest funding round that raised $15 million for the German startup Eyeo to speed up production and commercialization of its revolutionary image sensors. Lastly, Hitachi Ventures, the venture capital arm of the parent company of EPIC member Hitachi High-Tech, is one of the investors in the latest round of investment for Avicena as mentioned above.

Note: The mergers and acquisitions (M&As) as well as the investments compiled in this article are based on information readily available at the date of the publication of this article. EPIC shall update the article whenever it comes across publication of other transactions after the release of this article. Readers are encouraged to inform EPIC in case of an omission of a particular M&A or investment for the subject month. Feel free to give us an email at info@epic-photonics.com for inquiries.