IXI Optics Acquires Finnsusp Oy’s (Piiloset) Lens Business

Finnish technology company IXI Eyewear has acquired theeyeglass lens business of Finnsusp Oy (Piiloset). The lensoperations will be transferred to IXI Eyewear’s subsidiary,IXI Optics Oy, which will continue over 35 years ofdomestic lens manufacturing technology development.For more than three decades, Finnsusp Oy has been the onlyFinnish company manufacturing eyeglass lenses in Lieto,Finland. Most of the lenses produced have served thedomestic market. In recent years, however, Finnsusp Oy hasexperienced significant growth, particularly in the eye healthsector. With this business transaction, the company will nowfocus on its international core business, especially thedevelopment and production of dry eye products and contactlens care solutions. Founded in 1978, this export-driven familybusiness now sells its products in over 35 countries.

Strengthening Finnish Eyewear Expertise in Lieto, Finland

IXI Eyewear, a Finnish technology startup, develops dynamicsmart eyewear based on liquid crystal technology. Throughthis acquisition, the company gains unique capabilities tomanufacture and develop eyeglass lenses in-house. Thisstrengthens IXI’s product development and opens new growthopportunities for Finnish lens expertise. As part of the deal, IXIOptics Oy will take over Finnsusp Oy’s lens production, the“OLOlinssit” and “ProGolf” lens brands, the “Linssikauppa.fi”online store, skilled lens manufacturing personnel, and thesales and customer service organization. Both companies willcontinue operating in Lieto in the future.

For eyeglass lens retailers and users, this acquisition brings many positive developments – newinnovations to the lens market, the preservation of Finnish high-tech lens manufacturing, and continuedaccess to responsibly produced eyeglass lenses for all users.

Significant Investments in Future Growth

“Our vision at Finnsusp Oy is to multiply our revenue in the coming years by investing in the developmentof sterile Medical Devices and new production technologies in Lieto. Over the past year, we have madesignificant investments. A new factory for dry eye products and a new filling line will greatly increase ourproduction capacity, helping us meet the growing global demand,” says Riikka Järvinen, CEO of Finnsusp Oy.

“IXI’s vision and technological expertise convinced us that the future of our lens business is in good hands. It is important to us that the Finnish lens expertise we have developed over the years continues to thrive in IXI’s innovation-driven environment,” Järvinen adds.

“We are deeply grateful to the Finnsusp Oy team for their expertise – we are honoured to continue the
story of Finnish lens technology right where it has been built over decades. This acquisition is a strategic
leap for us toward smart eyewear that will revolutionize the entire industry,” comments Niko Eiden, CEO
of IXI.A New Chapter in Our Company’s Story

A new chapter has begun in the story of our company.

This change makes us even better prepared to support you as a trusted partner in the development and
manufacturing of Medical Devices. Thank you for being part of building the future of Finnsusp Oy – where
Finnish expertise shines on the global stage!

With warm regards,

Founded in 1978, family- and employee-owned Oy Finnsusp Ab (Piiloset) is a rapidly growing Finnish developer and manufacturer of unique contact lens care solutions, dry eye care products and individual spectacle lenses. Products (original brands Piiloset® and PuroSilmille®) are manufactured in own facilities in Lieto, Finland. In addition to the domestic market, the products are sold in over 30 countries in Europe,
South and North America, the Middle East and Africa. Today, the company employs about 70 medical device professionals and is constantly looking for new talents. Responsibility, Made-in-Finland, Development, High Quality and Partnership are core values that guide our daily operation. Our operations are certified according to ISO13485 and GMP standards. You can find more information about us on our website www.piiloset.fi

IXI Eyewear Oy is a Finnish technology company on a mission to create eyeglasses that provide optimal vision in every situation. Utilizing advanced optical technology, the eyeglasses adapt to the user’s vision and automatically adjust the focus of the visual field. The first generation of the product is currently under
development. Read more ixieyewear.com