Micro-LAM Acquired by IDEX Corporation

EAST LANSING, Mich. (Aug. 5, 2025) — Micro-LAM, a Michigan Rise portfolio company and innovator in laser-assisted machining and ultra-precision optics, has been acquired by IDEX Corporation (NYSE: IEX), a global provider of engineered products. The transaction closed in July 2025 and represents a significant milestone for Michigan’s high-tech startup landscape.

Micro-LAM develops advanced manufacturing systems that improve how hard materials are shaped and finished, especially for optical components used in aerospace, communications, and other high-tech industries. Its flagship technology, the OPTIMUS system, combines laser energy with precision cutting tools to produce smoother, more accurate surfaces. The company was founded at Western Michigan University in 2012 and is part of a growing wave of university spinouts attracting national investment and acquisition interest.

“This marks a meaningful milestone for Michigan Rise,” said Executive Director Jeff Wesley. “Micro-LAM’s acquisition reflects the kind of scalable technology companies we aim to support—those that originate from Michigan’s research institutions, attract follow-on investment, and achieve strategic outcomes.”

Michigan Rise is an early-stage venture fund managed by the MSU Research Foundation, in partnership with the Michigan Economic Development Corporation (MEDC). The fund provides capital and hands-on support to help Michigan-based tech startups scale. Since 2020, it has backed more than 135 companies and helped attract over $800 million in follow-on funding across sectors like mobility, advanced manufacturing, and life sciences.

Michigan Rise invested in Micro-LAM in 2023, joining other Michigan-based investors in a growth round that supported the company’s international expansion. Micro-LAM now employs approximately 90 people across Portage, Michigan; Keene, New Hampshire; and Stevenage, United Kingdom. Founder and CEO Dr. Deepak Menon will continue to lead the company, which will operate within IDEX’s platform.

IDEX acquired Micro-LAM for $90 million in cash, subject to customary adjustments, plus up to $12 million in potential earn-out payments. Micro-LAM’s work will complement IDEX’s existing optics-focused businesses. The acquisition strengthens Michigan Rise’s ability to reinvest in the next generation of founders and build long-term value across the state.

Explore the full portfolio of startups supported by the MSU Research Foundation at msufoundation.org/venture-funds.