US-based nano-engineering company Rolith, whose shareholders include glass, chemicals and electronics manufacturer Asahi Glass, has been acquired by smart materials producer Metamaterial Technologies.
Financial terms of the acquisition have not been revealed. The deal includes Rolith’s intellectual property, tools, research and development facilities and key employees.
Spun out of Stanford University in 2008, Rolith has developed a large surface area nanolithography process that enables nanostructured products. The technology has applications in a wide range of sectors from solar energy to consumer electronics to data storage and life sciences to architecture and lighting.
Metamaterial will use the technology to accelerate development of its products for the energy, healthcare, defense and aerospace sectors.
Rolith previously secured $5m in series A funding in 2012 from ACG America, the holding firm managing Asahi Glass’ North American subsidiaries. DFJ VTB Capital Aurora, a fund managed by financial services firm VTB’s investment unit VTB Capital.
Asahi also provided an undisclosed amount in seed capital in 2010.