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Flow-sensing company Flusso Limited has been jointly acquired for £28 million by a company and a global private equity fund focused on investing in semiconductor companies and other high-tech industries.

The transaction will enable the acquirers to expand their current product portfolio into flow and environmental sensing, and to establish a European footprint in Cambridge, UK to add to its existing facilities in the US and China. It will also give Flusso immediate access to significant additional expertise and capacity in the design, development and manufacture of new semiconductor devices.

Flusso will continue to operate under its own brand name and with its existing management team under the direction of CEO and company co-founder Dr Andrea De Luca.

Flusso co-founders Dr Andrea De Luca and Professor Florin Udrea Flusso was spun-out of The University of Cambridge in 2016 by co-founders Dr Andrea De Luca, CEO at Flusso (shown on the left above) and Professor Florin Udrea, CTO (on the right). The wider founding team, who are also all sensor experts with extensive experience in fluid dynamics and the semiconductor industry, included Professor Julian Gardner, Dr John Coull, Dr Syed Zeeshan Ali and Dr Ethan Gardner.

Flusso was founded in 2016 as a spin-out from University of Cambridge with support from Cambridge Enterprise, the University’s commercialisation arm.

The company completed a significantly over-subscribed Series A round in June 2020, led by Parkwalk Advisors, to raise US $5.7 million (£4.65 million). Flusso launched its first product, the FLS110, as the world’s smallest flow sensor targeting high-volume consumer, industry and medical applications later that year.

Goodwin Procter provided legal counsel to Flusso on the sale, with the two firms Baker McKenzie and Katten representing the private equity fund.

 

Everyone at Flusso is excited by what this acquisition means for our business as we power into a new phase of development.  It will help to accelerate the commercialisation of our flow sensing product lines; to fast-track the development and launch of our gas sensor products for environmental applications; and allow us to increase the investments and engineering resources allocated to developing new sensor innovations.  We will also get improved access to markets and customers, particularly in Asia.

Andrea De Luca, CEO, Flusso
Image: Flusso launched its FLS122 air velocity sensor earlier this year to target thermal management applications in servers, gaming PCs and data centres.