GE Lighting to Acquire LED Fixture Company Albeo Technologies
General Electric (NYS: GE) Lighting hassigned an agreement to acquire privately held LED light fixture manufacturer Albeo Technologies for an undisclosed sum, the company announced today.
GE Lighting described the deal as a move to enhance the company's offerings to commercial, warehouse, industrial, cold storage, office, data center, food processing, parking garage, school, sporting, and correctional customers, and in particular customers seeking to outfit their buildings entirely with LED lighting. Colorado-based Albeo says it has already outfitted "one of the world's 10 largest data centers" with all-LED lighting.
GE Lighting CEO Maryrose Sylvester is quoted as saying: "This acquisition accelerates our development of cutting-edge technologies that brings customers the energy-efficient solutions they need." Going forward, GE Lighting will make Albeo's fixtures available for purchase through its global distribution network.
The article GE Lighting to Acquire LED Fixture Company Albeo Technologies originally appeared on Fool.com.Fool contributor Rich Smith has no positions in the stocks mentioned above. The Motley Fool owns shares of General Electric Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.