Founded in 2014, Lightspace develops cutting-edge XR technologies, with a strong focus on applications in defence and healthcare. The company, which conducts its product development and manufacturing in Latvia, is recognised as a global leader in multi-focal AR near-eye displays. In June 2024, Lightspace partnered with Rheinmetall Electronics UK to co-develop advanced AR systems for defence and security applications.
Lightspace’s innovations include AR glasses designed to integrate into armoured vehicle helmets, providing users with a 360-degree external view and AI-supported battle management tools. The company is also advancing ISR (Intelligence, Surveillance, and Reconnaissance) AR headsets for ground control personnel operating military drones. These developments complement Summa Defence’s existing range of drone systems and align with its strategy to invest in dual-use technologies for both defence and civilian markets.
“With this acquisition, Summa Defence gains a strong foothold in the international field of high-technology solutions for the defence and healthcare industries,” said Jussi Holopainen, CEO of Summa Defence. “Expertise in deep technology has significant growth potential and it can revolutionise entire industries and offer unique solutions to global issues.”
Ilmars Osmanis, CEO of Lightspace, echoed the potential for growth: “As part of Summa Defence, we can boost our growth and further develop our leading XR near-eye display solutions for the defence industry as well as the healthcare sector.”
Lightspace reported a revenue of approximately EUR 400,000 in 2023, with a workforce of around 25 employees. The acquisition will not affect personnel, and both companies have agreed to keep the purchase price undisclosed.
Summa Defence’s acquisition strategy targets companies with technologies applicable to both civilian and defence markets, aiming to foster international growth, particularly in NATO countries. The group plans to allow acquired companies to maintain their own identities while benefiting from shared resources and collaboration on large-scale projects.
The acquisition of Lightspace marks a significant step in Summa Defence’s strategy to unite innovative defence and security technology companies. The group is also in the final stages of acquisition talks with several other firms in the sector, underscoring its commitment to becoming a key player in global defence innovation.
