Meta Materials Inc. said Thursday that it has agreed to acquire Canadian nano-optic visual authentication technology provider Nanotech Security Corp. for 90.8 million Canadian dollars ($72.4 million).
The developer of high-performance functional materials and nanocomposites said the acquisition is expected to expand the company's design-to-production roadmap and extend its position in commercializing metamaterials.
Meta Materials is paying C$1.25 a Nanotech share.
"We believe the addition of Nanotech's ultra-precision, high-volume production capabilities should place META in a strong leadership position in commercializing metamaterials at scale," Meta Chairman Ram Ramkumar said.
Write to Adriano Marchese at adriano.marchese@wsj.com
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