TAG Optics Joins Mitutoyo Corporation Through Sale of Majority Stake
TAG Optics Inc., the developer of the world's fastest tunable focusing lenses, announces that it has closed the sale of an equity round in which Mitutoyo Corporation, the world leader in precision measurement solution, has acquired a majority stake of the company's shares.
Princeton, New Jersey, September 8, 2016 (Newswire.com) - Following the establishment of a technology and product-centric alliance between TAG Optics and Mitutoyo Corporation of Japan, TAG Optics announces that it has closed the sale of an equity round in which Mitutoyo acquired a majority stake of the company's shares. Originally announced in February, the framework agreement between the two companies has, among other ongoing joint technological projects, lead to the development of a new TAG Lens™ with the ability to be mass produced by Mitutoyo.
This relationship further solidifies the partnership between the two companies and enables TAG Optics to contribute to Mitutoyo’s business from a technological perspective, while continuing to enter new markets in biological, inspection, biometric and machine vision applications. The company plans to focus developmental efforts on creating a new line of imaging systems based on its ground-breaking technology, which has the ability to be customized for the end user.
TAG Optics’ latest products will be on display at the Technology and Innovation Center in Mitutoyo America Corporation’s booth (E-5215) during the International Manufacturing & Technology Show (IMTS) at McCormick Place in Chicago, taking place September 12-17. Specifically, IMTS attendees will get the chance to experience a prototype TAG-Enabled Inspection Microscope based on Mitutoyo’s popular Video Microscope Unit (VMU), in addition to a high-speed Z-inspection system for part inspection and analysis.
About TAG Optics Inc.
TAG Optics Inc. is a start-up company headquartered in Princeton, NJ, with the goal of transitioning the TAG Technology, originally developed at Princeton University, from a laboratory device to a commercial product. It has since been recognized as a world leader in high-quality tunable lenses, winning several international awards for the technology and its TAG Lens™ family of products. Its products are currently used throughout the world in applications ranging from ultra-high precision microscopy to 3D machine vision. For more information, visit www.tagoptics.com
About Mitutoyo Corporation
Mitutoyo Corporation is an international company specializing in measuring instruments and metrological technology, headquartered in Kawasaki, Japan. The company is the world's largest provider of measurement solutions offering the most complete selection of machines, sensors, systems and services with a line encompassing CMM (Coordinate Measuring Machines), vision, form and finish measuring machines, as well as precision tools & instruments, and metrology data management software. The company’s vast network spans more than 31 different countries. For more information, visit http://www.mitutoyo.co.jp/global.html
Source: TAG Optics Inc.