GE Lighting today announced it has signed an agreement to acquire Lightech, a privately held company based near Tel Aviv, Israel, with commercial teams in Europe, the USA and Asia. Lightech specializes in providing LED electronic drivers, plus halogen transformers, to the lighting industry. The purchase price was not disclosed. This strategic acquisition supports GE Lighting position as the lighting market continues to evolve towards more-efficient technology.
“For our customers, this acquisition means we will deliver a more optimized, energy-efficient LED lighting system–faster,” says GE Lighting President & CEO Maryrose Sylvester. “Combining GE’s power electronics design capability with Lightech’s breadth of high-efficiency power supplies and controllability positions GE to respond to the market with complete systems and higher performance drivers and controls. We are excited about the opportunities–for GE and for our customers.”
The transaction, which is subject to customary regulatory reviews and approvals, is expected to close within the next six to eight weeks.
