Investment Group Acquires Optical Engines Firm Axsun Technologies
BILLERICA, Mass., Oct. 20, 2015 — Optical engines developer Axsun Technologies Inc. has been acquired from Volcano Corp. by Anzu Partners, an investment firm in Washington, D.C.
As part of the transaction, Axsun received growth capital while an affiliate of Anzu Partners purchased the 65,000-square-foot Axsun operations building. Other terms of the deal were not disclosed.
Axsun Vice President and General Manager Jonathan Hartmann will become CEO, while Peter Whitney will continue as chief science officer and vice president of engineering. Chris Baldwin will continue to serve as chief financial officer, and Bill Ahern will continue to lead sales and business development. Hartmann and Whitney have also joined the board of directors.
"Over the past year, Axsun Technologies has focused on significant manufacturing process improvements, and the new investment will enable ground-breaking product enhancements," Whitney said. "As an independent company, Axsun will continue its leadership position in producing high-performance, compact optical engines for medical imaging, industrial analyzers and telecommunications."
Axsun Technologies develops optical engines based on microelectromechanical systems (MEMS). Products include optical channel monitors for dense-wavelength division multiplexing communications, industrial near-infrared spectroscopy and swept laser engines, and data-acquisition electronics for optical coherence tomography.