Nanotech Sells to Smart Light Company

Optical security feature provider Nanotech Security Corporation has agreed to be acquired by Meta Materials, a developer of high-performance functional materials and nanocomposites, for nearly C$91 million.

The transaction is subject to customary closing conditions, including approval by Nanotech shareholders. The Board has unanimously recommended the offer.

Nanotech is based in BC, Canada with a high security production facility in Quebec. Its portfolio includes nano-optic structures and colour-shifting foils used in authentication for banknotes, secure government documents, and commercial branding. Its technology platforms include KolourOptik™, LiveOptik™ and LumaChrome™. It has 47 issued patents and 22 pending.

Last year, the company had sales of C$7.7 million, up by 12.5% on the previous year, but a net loss of $1.8 million, down by 35% on the previous year. In the first three quarters of this year, revenues were up by 21% to C$6.1 million compared with the first nine months of the previous financial year.