Roanoke tech company buys Md.-based fiber optic manufacturer
Luna Innovations Inc. acquires New Ridge Technologies LLC
Roanoke-based optical technology company Luna Innovations Inc. announced late last week it has acquired Owings Mills, Maryland-based fiber optic equipment manufacturer New Ridge Technologies LLC.
Financial terms of the deal were not disclosed.
New Ridge Technologies develops and manufactures fiber optic test and measurement equipment and advanced fiber optic subsystems for telecommunication applications. The acquisition will bring New Ridge Technologies’ products to Luna for more reliable and faster communications networks to support 5G buildout and bandwidth expansion, according to a company statement.
“This acquisition of New Ridge Technologies and its solutions are a perfect complement to our communications test and measurement portfolio,” Luna CEO Scott Graeff said in a statement. “This is a $6.2 billion space, so this move will act as an accelerator for us in these growth areas.”
New Ridge Technologies’ products and technology were developed by founder and CEO Henry Yaffe, who will bring 35 years of tech experience to Luna as vice president of technology for Luna’s Communications Test business unit.
“At New Ridge Technologies, our goal has always been to bring valuable, reliable, fiber optic subsystems and test and measurement equipment to our client base, so they can provide the best services to their customers,” Yaffe said in a statement. “I believe the future is fiber, and the combination of NRT’s products within the Luna portfolio will help make that future an exciting reality.”