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 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.