L3 acquires minority stake in nanotechnology company

L3 Technologies said this week it has acquired a minority stake in nanotechnology firm Peak Nano Optics.

"Peak Nano's nanolayer gradient refractive index (GRIN) technology allows for the design and manufacture of lenses with greater electro-optical performance in visible to near-infrared applications at a fraction of the size, weight and volume of currently available complex lenses," L3 said in an announcement, noting the investment will allow it to bolster its existing products and broaden its capabilities.

The deal was completed Feb. 6; terms were not disclosed.

"The business will continue to operate as an independent entity under the name Peak Nano Optics and will work closely with L3’s Sensor Systems organization on ongoing development investments," L3 said.

Peak Nano is based in Dallas and has a low-rate production facility in Cleveland, according to L3.

"Peak Nano is completing the design and development of a high-volume, robotic manufacturing process and plans to establish a full-rate manufacturing facility at a location in the Dallas area of the North Texas metroplex," L3 added.