German photonics company m-u-t AG acquires 75% of Finnish sensor technology company Spectral Engines.

Finland Exit 04 May 2018
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Spectral Engines, a Helsinki, Finland-based sensor technology company announced signing a contract with a Germany based photonics company m-u-t AG for selling 75% of its shares.

The financial details of the transaction remain undisclosed.

The acquisition will expand Spectral Engines’ global footprint and strengthen its growth strategy in the selected sensing application in Smart Industry, Smart Agriculture and Smart Consumer Products.

Spectral Engines, founded in 2014 and led by CEO Jarkko Antila, developed advanced MEMS-based spectral sensors, which have been developed as a disruptive approach to extremely miniaturized and cost-effective material sensing applications.

The company had raised almost $3M in capital funding from investors including Finnvera, Inventure, Timo Syrjälä and VTT Ventures, who exit now the company.