Excelitas Technologies Corp has agreed to acquire Axsun Technologies Inc, a portfolio company of Anzu Partners. No financial terms were disclosed. Needham & Company LLC is serving as financial adviser to Axsun on the deal. Based in Billerica, Massachusetts, Axsun is a maker of MEMS-based optical engines for medical imaging, industrial spectroscopy and optical telecommunications applications.
BILLERICA, Mass., Dec. 14, 2018 /PRNewswire/ — Axsun Technologies Inc., an Anzu Partners portfolio company, today announced that it has signed a definitive agreement to be acquired by Excelitas Technologies® Corp., a global technology leader focused on delivering innovative, customized photonic solutions.
The terms of the agreement are not being disclosed and the transaction is expected to close in early 2019. Jonathan Hartmann, CEO of Axsun, commented, “This is an outstanding opportunity for Axsun, our customers, and our employees as we continue to expand our product line and develop new markets together with Excelitas.”
“Our partnership with Anzu Partners has been outstanding, and we are grateful for their investment and support which has enabled us to achieve our goals, enter new markets, and has been a catalyst for tremendous technology development. The work we have done together will be beneficial to our customers in healthcare and other emerging growth markets for years to come.”
Needham & Company, LLC is acting as financial advisor to Axsun in the transaction.
About Axsun Technologies
Axsun Technologies, Inc., established in 1998, develops and manufactures MEMS-based Optical Engines for Medical Imaging, Industrial Spectroscopy and Optical Telecommunications applications.
Through its expertise in micro-optics, packaging and precision engineering, Axsun has pioneered an entirely new class of high-performance, miniaturized instruments and devices enabling a dramatic shift from lab based measurements to on-line, at-line and in-vivo measurements. For more information, please visit www.axsun.com.
About Anzu Partners
Anzu Partners is a venture capital and private equity firm that invests in breakthrough industrial technologies. Anzu teams with entrepreneurs to develop and commercialize technological innovations by providing capital and deep expertise in business development, market positioning, global connectivity, and operations. For more information, please visit https://anzupartners.com.