The combination of a highly experienced developer of nano-optic security features used in banking with a developer of materials research sent shares soaring today.
Nanotech Security Corp (TSXV:NTS) agreed to be acquired by Meta Materials Inc. (NASDAQ:MMAT) for C$90.8 million. Nanotech Security is a leader in the development of secure and visually memorable nano-optic security features that provide anti-counterfeiting solutions used in the government and banknote and brand protection markets. Meta Materials is a developer of high-performance functional materials and nanocomposites.
Through its products and technology, Nanotech delivers sophisticated overt, covert, and forensic security features for brand protection and banknote markets. Nanotech is expected to expand and accelerate Meta’s current roadmap in commercializing metamaterials.
Shares of Nanotech were up 57% in early afternoon trade, while shares of Meta Materials were trading up over 2%.