Vaporsens, a US-based nanofiber chemical sensor technology spinout of University of Utah, has been acquired by dimmable mirrors and windows manufacturer Gentex for $10.5m.
The corporate paid $7.1m in cash, with another $3.4m in common stock. The deal closed on April 8, 2020 but was only announced today.
Vaporsens has developed a nanofiber-based sensing technology that emulates the ability to smell, allowing clients in law enforcement and the military to detect explosives and narcotics.
The company previously secured $3m in equity financing from Gentex, according to the acquisition announcement, though it is unclear when this investment took place.

Vaporsens, a US-based nanofiber chemical sensor technology spinout of University of Utah, has been acquired by one of its investors, dimmable mirror and window manufacturer Gentex, for $10.5m.

Gentex paid $7.1m in cash, with the other $3.4m provided in the form of common stock. The deal closed on April 8, 2020 but was only announced today.

Vaporsens has developed a nanofiber-based sensing technology that emulates the ability to smell, allowing clients in law enforcement and the military to detect explosives and narcotics.

The company had previously secured $3m in equity financing from Gentex according to the acquisition announcement, though it is unclear when that investment took place.

The original version of this article appeared on our sister site, Global University Venturing.