Lightspace Technologies due diligence

On behalf of the Finnish defence industry group Summa Defence Oy, Grant Thornton Baltic conducted financial due diligence on Lightspace Technologies prior to its acquisition in December 2024.

Lightspace Technologies is a Latvian deep-tech start-up that, since its establishment in 2014, has grown into one of the global leaders in the development of volumetric and multifocal augmented reality technologies and products. The company focuses on solutions for the healthcare and defence sectors.

Grant Thornton Baltic carried out a comprehensive financial due diligence of the target company. The project was particularly complex due to the company’s stage of development — a rapidly growing start-up in an active growth phase, with a primary focus to date on product development rather than full-scale commercialisation.

In close collaboration with the client, risk mitigation mechanisms were also developed to support transaction structuring, enabling informed decision-making throughout the acquisition process.
 
 
 

Based on the analysis performed, the key financial and operational risks associated with the acquisition of the target company were identified. These risks related both to the company’s historical development and to its future plans and projections.

In close collaboration with the client, risk mitigation mechanisms were also developed to support transaction structuring, enabling well-informed decision-making throughout the acquisition process.