908 Devices rises as it buys Swiss drug detection firm NIRLAB

908 Devices

06/05/2026 12:09

** Shares of chemical detector maker 908 Devices MASS.O rise 12.6% to $7.98 premarket

** Co says it will acquire NIRLAB AG, which makes portable tools to detect illegal drugs; devices identify and measure purity of substances like cocaine and methamphetamine in seconds

** Says deal valued at $15 mln in cash and stock, with up to $8 mln in additional stock tied to performance targets over 20 months

** Co says acquisition expands its narcotics detection offerings and adds NIRLAB’s cloud platform and mobile app used in over 1 mln field tests

** NIRLAB employs 15 people and is based in Lausanne, Switzerland, co says

** MASS CEO says deal creates a broader solution for law enforcement to analyze drugs quickly in the field

** As of last close, stock up ~35% YTD

 (Reporting by Sahil Pandey in Bengaluru)

 ((Sahil.Pandey@thomsonreuters.com))