This company developed spectroscopy devices that are highly sensitive due to their coded aperture. The technology was licensed from Duke University and the company’s assets were acquired and further developed by Coda and its venture capital investors. The company sold rugged devices designed for law enforcement and government agencies for use in detecting heroin and fentanyl in feild conditions. The company had very little revenue. After a full auction process we identified Thorlabs as a buyer who would highly value and further develop the technology and wanted to hire the key employees. The deal included an earn out based on employees and technology successfully transfering.
