Luna Innovations Incorporated (NasdaqCM:LUNA) acquired Silixa Ltd for $38 million on December 21, 2023.The purchase price consists of $21.5 million in upfront cash consideration and up to an additional $16.5 million in earnouts payable in 2025 upon the achievement of certain 2024 financial performance milestones. The transaction was funded with a portion of the proceeds from White Hat Capital Partners? strategic investment in Luna, which was also announced today. Glynn Williams, CEO at Silixa, who will remain as an advisor to Luna through 2024. Needham & Company, LLC acted as financial advisor and Cooley LLP acted as legal counsel to Luna in the transaction. PwC Corporate Finance LLP acted as financial advisor and Addleshaw Goddard LLP acted as legal counsel to Silixa.

Luna Innovations Incorporated (NasdaqCM:LUNA) completed the acquisition of Silixa Ltd on December 21, 2023.