Press Releases

Kromek announces US acquisition Californian company Nova strengthens imaging and detection portfolio

Kromek, which specialises in the development of disruptive technology solutions for a range of commercial markets, today announces successful completion of the acquisition of California-based Nova R&D (www.novarad.com).

This acquisition is strategically significant for Kromek, strengthening the company’s presence in the imaging and detection market, boosting its capabilities in the field of electronics and ASIC design, and giving it a permanent, physical presence in the US.

Nova brings to Kromek a strong IP portfolio: it holds a family of 30 patents in the fields of imaging and radiation detection, which will add further weight to Kromek’s own patent portfolio. Specifically, Nova has a number of important technologies and products in the CBRNE market and will introduce significant commercial relationships in these critical, growing markets.

Dr Tumay O Tumer, former President of Nova and originator of the majority of the technology and patents will stay on as chief scientist. Dr Tumer is a visionary and highly-respected technologist in the field of multispectral imaging and detection, and will therefore be a great addition to the wider Kromek team.

The acquisition, which was part-cash, part-stock, will complete Kromek’s imaging and detection competencies, giving it more freedom to integrate and develop core technologies, and affirm its position as one of the few companies in the world with such technical capability and scope.

Arnab Basu, chief executive, commented:

“These are undoubtedly exciting times for everyone at Kromek. The team has worked tirelessly to push us forward in target markets and identify opportunities for business expansion.

This acquisition is major part of that strategic effort, and we are proud to now be at the global forefront of the imaging and detection market, which has so many industrial applications. We are all looking forward to working with our new colleagues in California to make the newly combined business a big success.”

Dr Tumay O Tumer added: “I’m honoured to continue the Nova legacy at Kromek, which will bring a new dimension to the company and help to target previously untapped markets. Nova’s existing technologies complement Kromek’s offering perfectly, creating a cutting edge, world-leading combination.”

For further information, please contact Laura Foster or Nicola Williamson on 0191 222 0722 / laura.foster@admiralpr.com / nicola.williamson@admiralpr.com