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Meta Materials Inc. has successfully completed the acquisition of Nanotech Security Corp. for approximately C$90.9 million. The acquisition, priced at C$1.25 per share, aims to enhance META's capabilities in anti-counterfeiting solutions and expedite growth in the commercialization of metamaterials. META plans to double Nanotech's production capacity from 7 million to 15 million square meters annually within the next 1-2 years. The acquisition also includes a C$52.7 million frame agreement with a confidential government client, solidifying future revenue streams.
Meta Materials Inc. (NASDAQ: MMAT) has signed an agreement to acquire Nanotech Security Corp. (TSXV: NTS, OTCQX: NTSFF) for approximately C$90.8 million in cash at C$1.25 per share. This strategic acquisition is expected to enhance Meta's manufacturing capabilities, reduce production costs, and accelerate commercialization in various sectors, including 5G and solar energy. The transaction is set to close in early October 2021, pending regulatory approvals. Both companies aim to leverage their combined technologies for growth in the security features market.
