GE Lighting to Acquire LED Driver Maker
EAST CLEVELAND, Ohio, July 26, 2011 — GE Lighting has signed an agreement to acquire Lightech of Tel Aviv, Israel, a privately held lighting technology company. Purchase price was not disclosed.
With commercial teams in Europe, Asia and the US, Lightech provides LED electronic drivers and halogen transformers to the lighting industry. GE Lighting is engaged in all aspects of lighting technology: R&D, engineering, manufacturing, sales and distribution.
“For our customers, this acquisition means we will deliver more optimized, energy-efficient LED lighting systems – faster,” said Maryrose Sylvester, president and CEO of GE Lighting. “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.”
The transaction is expected to close within six to eight weeks.
For more information, visit: www.ge.com
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