Electronics manufacturer Samsung appears to have made a loss from its investment in fast-pulse laser maker Raydiance, after the US-based company was acquired by photonics technology provider Coherent.
Founded in 2004, Raydiance builds fast-pulse lasers that were used in production of automotive and medical devices.
The company had raised approximately $105m in funding, but its assets have ultimately been bought together with specialty optic technology developer Tinsley Optics for a combined $9.3m, according to the North Bay Business Journal.
Samsung led a $20m round for Raydiance in 2012 through its Samsung Venture Investment Corp subsidiary that included existing investors Draper Fisher Jurvetson, DFJ Growth and Greenstreet Partners.
Other past investors in Raydiance include Meteor Group and venture capital fund Blue Swell Capital. Coherent will combine it with Tinsley to form a new integrated optical systems unit that will be located in Richmond, California.