May 19, 2020 – Koch Engineered Solutions (KES), a unit of Koch Industries Inc., announced it has acquired a majority stake in DarkVision Technologies Inc. (DarkVision) in the first step towards developing a broad asset integrity platform within KES. In conjunction with the acquisition, KES has also made a significant growth equity investment in DarkVision to fund future growth, R&D and expansion. DarkVision is an early stage industrial acoustic imaging company.
DarkVision serves the multi-billion-dollar NDT market, which continues to grow amid aging infrastructure and an increased regulatory environment. DarkVision’s core capabilities include in-house expertise in software (visualization and image processing), hardware (acoustic transducer arrays), and electronics (custom designs to link hardware and software). These advanced capabilities have broad applicability beyond DarkVision’s current commercial offering serving the downhole oil & gas space. Packaged into a single solution, DarkVision will serve customers in a variety of end-markets such as public infrastructure, energy and pipelines, power (renewables and conventional), aerospace, manufacturing, and automotive – amongst others.
Stinson LLP served as legal advisor to KES in this acquisition with Blake, Cassels & Graydon LLP serving as local counsel for KES. Fasken Martineau DuMoulin LLP served as legal advisor to DarkVision.
