Interesting article in small times this month. Nanoopto was a nanoimprint lithography company that raied 50million in VC money (TINY included). Lux Research called it the #1 nanotech startup. This yr nanoopto liquidated and was sold at fire actuion to API.
The reason the article states for failure was that the time frame for real revenue was too far away (sounds like alot of nanotech cos btw). "It takes years to penetrate markets and they ran out of runway". TINY's Jaimson stated" this is clearly not a homerun but they did a fantastic job of developing technology and people will see value in the technology as API pushes it forward"
Just as soon as NanoOpto failed, the acquirer is touting it's acquisition. From todays APIO press release:
Developed at the Company's NanoOpto Division, this advanced product is based on a patented nanofabricated grating design. The polarizers can be optimized for use at a customer-specified wavelength, such as the 266nm quadrupled YAG laser line, and exhibits extinction ratios exceeding 20db. These devices, which are non-dichroic, high-transmission components and super thin, can be cut to any application-specific size and shape up to 4" x 4". The Company is targeting UV photolithography and display applications markets and has already received interest from a variety of global blue chip technology companies.
"This is an exciting development for API," said Phillip DeZwirek, Chairman and CEO of API. "We expected NanoOpto to yield many new products, but these polarizers are well ahead of schedule and that is a testament to Dr. Moskovits and the team at our new facility in New Jersey. We anticipate that this will highlight API's superior technical capabilities to a variety of industries and lead to new partnerships for our company."
I predict APIO will outperform TINY over 12 months.