Acuity Brands Buys Sensor Switch
April 21, 2009 (FinancialWire) — Acuity Brands, Inc. (NYSE: AYI) said that its lighting unit has acquired Sensor Switch, Inc., a developer and manufacturer of lighting controls and energy management systems. The $205 million deal consisted of stock, cash, and a note payable.
Company CEO Vernon J. Nagel said that the addition of Sensor Switch, along with the company’s recent acquisition of Lighting Control and Design, allows Acuity to expand its capabilities in the field of “intelligent lighting products” and lighting control solutions “in a time when energy management control is critical.”
Atlanta-based Acuity Brands owns and operates Acuity Brands Lighting and Acuity Brands Technology Services.
The company’s two operating units are providers of lighting fixtures and related products and services. Acuity owns brands such as Lithonia Lighting, Holophane, Peerless, Mark Architectural Lighting, Hydrel, American Electric Lighting, Gotham, and others.
The company employs around 6,000 associates and has operations in North America and in Europe and Asia.
FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.
Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.