Boston-based 908 Devices has successfully acquired RedWave Technology, a company known for its portable FTIR spectroscopic analyzers. This acquisition is expected to bring new optical spectroscopy capabilities to 908 Devices’ existing technology platform, which is focused on point-of-need applications for chemical and biochemical analysis.
FTIR, which stands for Fourier Transform Infrared, is a type of optical spectroscopy that is commonly used for the identification of various substances across different types of materials. RedWave is recognized for its expertise in developing portable FTIR analyzers that are specifically designed for the rapid identification of chemicals in bulk materials.
The acquisition will not only bring RedWave’s innovative technology to 908 Devices, but also its existing customer base and market presence. RedWave is a high-growth company that has seen significant success in the portable FTIR market. The company’s analyzers are currently in use in more than 20 countries around the world.
In addition to its portable FTIR analyzers, RedWave also offers a range of accessories for pharma Process Analytical Technology (PAT) and industrial quality control (QC) applications. These products are designed to work in conjunction with RedWave’s analyzers to provide enhanced chemical analysis capabilities for specific use cases.
908 Devices plans to leverage RedWave’s product portfolio to expand its own offering of handheld and desktop chemical analysis devices. The company will focus on incorporating RedWave’s technology into its forensic workflow solutions, which are designed to help first responders and other professionals quickly detect and identify unknown chemicals in the field.
“Our technology platforms are complementary as our forensics customers rely on both mass spec and FTIR analyzers to rapidly assess and monitor their environment for dangerous trace chemicals and bulk chemical hazards,” said Kevin J. Knopp, CEO and Co-founder of 908 Devices.
Knopp also noted that the acquisition of RedWave will help 908 Devices accelerate its overall strategic objectives. This includes not only expanding the company’s product portfolio, but also its market reach and revenue growth.
As a result of the acquisition, 908 Devices will also gain access to RedWave’s existing team and operational resources. This includes the company’s headquarters in Danbury, Connecticut and its 39 employees.
908 Devices has not disclosed the specific financial terms of the deal, but the company did confirm that it included a combination of cash and stock. The acquisition is expected to be finalized in the coming weeks, subject to the satisfaction of certain closing conditions.
Founded in 2012, 908 Devices has established itself as a leader in the development of purpose-built mass spectrometry devices. The company offers a range of handheld and desktop instruments that are designed to provide real-time chemical analysis in a variety of settings.
