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Thorlabs acquisition of Coda Devices


Client and Seller:  Coda Devices

Coda Devices is a technology company focused on the development of patented coded aperture raman spectroscopy in partnership with Duke University.  Coded aperture represents new technology for spectroscopy, providing superior signal-to-noise ratio and fluorescence suppression.


Buyer:  Thorlabs

Thorlabs, Inc. is an American privately held photonics and optical equipment company headquartered in Newton, New Jersey.  The company was founded in 1989 by Alex Cable, who serves as its current president and CEO. 


Transaction Details:

Coda Devices achieved success selling portable raman spectrometers into the law enforcement market for narcotic detection.  The Coda system could detect more than 3,800 illicit substances, often mixtures of compounds with a miniscule false positive rate.  Thorlabs acquired the technology and the key engineering and scientific talent from Coda Devices and will dramatically expand the applications and markets where coded aperture raman technology can be used.


Broker/Dealer:  Hamilton Grant

Completion:  October 2019

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