Thursday, August 14, 2008

Nantero’s gov’t, military biz heads to Lockheed

By Efrain Viscarolasaga

Woburn-based nanotechnology company Nantero Inc. has sold its government and military business unit to Maryland-based Lockheed Martin Corp. for an undisclosed amount.

As a result of the deal, Lockheed Martin lands an exclusive license arrangement with Nantero for government applications of the company’s intellectual property portfolio, as well as approximately 30 employees, including Brent Segal, co-founder and COO of Nantero. The employees will be integrated into Lockheed Martin’s Advanced Technology Center, a unit of Lockheed Martin Space Systems Company.

Greg Schmergel and Thomas Rueckes, Nantero’s other co-founders, will remain with the company as CEO and CTO, respectively. Nantero will also keep 40 employees, according to Schmergel, the bulk at the company’s Woburn headquarters.

The separation of the two units will allow Nantero to focus on commercial applications, said Schmergel.

Lockheed Martin officials said the engineering giant has recognized the utility of nanotubes in a number of applications, including the development of stronger, lighter and less expensive materials; more capable systems; and enhanced personal protection for military and first responders. Officials called the acquisition “a strategic fit.”

Nantero’s technology deals with the use of carbon nanotubes in semiconductor materials, and its government business unit’s research includes nanotechnology-enabled memory, logic and sensor devices.

Nantero’s nanotechnology-enabled memory is not yet commercialized but is in development at a number of commercial fabrication facilities with partners, according to Schmergel. While Schmergel would not specify which partners are integrating the product into production, the company’s partners include ONN Semiconductor Corp. in Arizona, BAE Systems in England, and Hewlett Packard Co. in California.

Privately-held Nantero has raised at least $31.5 million in funding over three rounds. Investors include Globespan Capital Partners, Charles River Ventures and Draper Fisher Jurvetson.