Tuesday November 27, 2012 0 comments
BOULDER - GE Lighting has signed an agreement to acquire Boulder-based Albeo Technologies Inc., a privately-held LED fixture manufacturer established in 2004.
Details of the acquisition were not released.
"The addition of Albeo Technologies' immensely talented team and its award-winning LED fixture portfolio enhances GE Lighting's ability to serve as a trusted advisor to enterprise customers around the world," said Maryrose Sylvester, GE's president and CEO.
"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."
Albeo's products have been recognized with 16 independently judged awards, including six from the U.S. Department of Energy.
"Today's news is significant for what it enables customers to do with lighting," said Jeff Bisberg, Albeo's co-founder and CEO.
"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."
For more information, visit www.gelighting.com.