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  • Revolution Lighting Technologies, Inc. (RVLT) Acquires A Leading Manufacturer Of Outdoor LED Products 0 comments
    Aug 12, 2013 2:02 PM | about stocks: RVLT

    Revolution Lighting Technologies is a leader in the design, manufacture, marketing, and sale of LED lighting solutions focusing on the industrial, commercial, and government markets around the world. The company distributes its innovative, multi-brand product platform through a network of independent sales reps and distributors as well as through energy savings firms.

    The company announced today that it entered into a definitive agreement to purchase Relume Technologies, a leading manufacturer of outdoor LED products and smart grid control systems for outdoor lighting applications. Under terms of the agreement, Revolution Lighting will pay a total of $15 million for Relume. Approximately $5 million of the payment will be in cash, with the remaining $10 million to be paid in Revolution Lighting common stock.

    The acquisition is a good strategic fit for Revolution as it will expand its product line. Its current line of products is mainly focused on indoor applications. In contrast, more than 75% of Relume's business consists of outdoor lighting, with the remainder split between smart grid control systems and LED lighting for media and signage. It serves several outdoor LED markets, including municipal street and highway lights, parking lots and garages, pedestrian areas, along with buildings and outdoor advertising displays.

    In addition, Relume's patented Silver Circuitry process for LED thermal management offers the first seven-year LED warranty. This should add significant value to Revolution Lighting Technologies customers. For further information concerning the company and its acquisition of Relume Technologies, please visit rvlti.com.

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    Stocks: RVLT
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