GE Lighting has signed a contract for an undisclosed figure for the acquisition of LED manufacturer Albeo Technologies.
Colorado-based Albeo Technologies specialises in LED solutions for industrial and commercial facilities. The company, which was established in 2004, has lit a number of 'all-LED' facilities, including one of the world's largest data centres. The company's products have been recognised with 16 independently judged awards, including six from the US Department of Energy.
Maryrose Sylvester, president and CEO of GE Lighting, said: "This acquisition is a big boost for GE customers moving aggressively toward an all-LED building envelope in new construction and retrofits, including retail, commercial and industrial high-bay applications."
GE also said the acquisition will enable it to accelerate its ability to offer customers a more complete and integrated LED solution.
"Some of our biggest customers told us they wanted a GE-quality solution for high bay," said Sylvester. "This acquisition accelerates our development of cutting-edge technologies that brings customers the energy-efficient solutions they need. That's what customers get at the end of the day—a refined, highly modular and scalable platform that delivers the GE quality they've come to expect."
Jeff Bisberg, Albeo Technologies' co-founder and CEO said: "Joining GE vastly expands the universe of customers with access to our breakthrough LED solutions and it profoundly empowers our research and product development capability. Our team takes great pride in the fact that we're now part of the company behind the invention of the LED."
