English
Polski
PRESS RELEASE
Ożarów Mazowiecki, May 15, 2025
The company has signed a letter of intent to acquire the assets of a company producing infrared detectors.
VIGO Photonics S.A. (WSE: VGO), a global manufacturer of the most advanced mid-infrared photonic detectors and detection modules and semiconductor materials, announced the signing of a letter of intent regarding the transaction of purchase of assets of an American manufacturer of infrared detectors.
The company selling the assets operates globally, but with particular emphasis on the American, Asian and European markets. The company is active in an area complementary to the main activity of VIGO Photonics - it deals with the design, production and sale of infrared detectors. In terms of industries, its products reach customers from the industrial, scientific and arms sectors.
The planned acquisition is another step in the implementation of our strategy, which assumes, among other things, expansion on the American market. The acquisition will enable a dynamic expansion of the customer base on the local market, takeover of contracts in each phase of implementation, and significantly increase the visibility of the VIGO brand in the USA. Our main goal on the American market is to become a leader in the mid-infrared area. For several quarters, we have been working intensively on developing our presence on the US market - we are building our own team and organizational structures there, and at the same time adapting the product offer. The year 2024 and the beginning of 2025 brought very good results in this respect - says Adam Piotrowski, President of the Management Board of VIGO Photonics S. A.
In 2024, VIGO acquired 29 new customers in the US. Among the most important achievements related to the expansion in this market, it is worth mentioning the signing of a three-year contract with a key customer for the supply of seven types of LN2 (liquid nitrogen) detection modules, the implementation of the first order for a customer from the medical industry and obtaining a large contract from an arms company. The contract with this arms company covers detectors for detecting firearms shots, which will be used in public facilities, schools and offices (this is an example of significant adaptation of the offer to the specific needs of the American market, where security issues in public spaces are of particular importance).
In addition, VIGO secured framework orders in the US last year with six new customers operating in the methane monitoring sector. The company also obtained all required certificates necessary to sell to the US Department of Defense and other government agencies. In early 2025, VIGO participated in the world's most important and largest optics and photonics fair, where it presented 5 new product lines, including the flagship LN2 detector line, designed for the most demanding applications.
The American market has enormous potential in the area of detectors, both in traditional sectors of the economy, such as industry or laboratories, as well as in the military sector, where growing investment outlays and the trend of modernizing weapons, vehicles and missile systems technology create numerous opportunities. We are already part of this process and we are successful, for example by signing a three-year contract with a key customer for infrared detectors with liquid nitrogen. The potential acquisition will significantly accelerate our development in the United States, enabling us to expand the customer base, who will be interested in both our current solutions and future innovations. – adds Adam Piotrowski.
According to the provisions of the letter of intent, VIGO has exclusivity to acquire the assets within a period of up to 90 days from the date of its signing (with the possibility of extension). The final terms of the transaction will depend on, among other things, a positive result of the due diligence and obtaining the required corporate approvals.
VIGO conducts analyses regarding methods of financing transactions, which may include using the company’s own funds, obtaining debt financing or issuing new shares.
About VIGO Photonics
VIGO Photonics S.A. (WSE: VGO) is a global manufacturer of advanced mid-infrared detectors, dedicated modules and semiconductor materials. VIGO technology is used by customers from all over the world - from industry, through transport and medicine, to the security and defense sector. VIGO detectors have been tested even in the most demanding conditions - on Mars, where they were found on board the Curiosity rover in the NASA mission. The company has been operating since 1987 and has been listed on the Warsaw Stock Exchange since 2014. It employs about 200 outstanding specialists and scientists. The company's headquarters is located in Ożarów Mazowiecki, and its subsidiary operates in the United States.
More information:
www.linkedin.com/company/vigo-photonics
Media contact:
Piotr Piotrowski, CC Group
piotr.piotrowski@ccgroup.pl, +48 697 613 010
Karolina Sałajczyk-Stefańska, VIGO Photonics
ksstefanska@vigo.com.pl, +48 538 565 256
