|[November 26, 2012]
GE Lighting Acquiring Colorado-Based Fixture Company Albeo Technologies
EAST CLEVELAND, Ohio --(Business Wire)--
GE Lighting-inventor of many of the major lighting technologies at work
today, including the first visible LED 50 years ago-has signed an
agreement to acquire Boulder, Colorado-based Albeo
Technologies Inc., a privately held LED fixture manufacturer
established in 2004.
GE Lighting's acquisition of Albeo satisfies urgent demand for energy-efficient high-bay LED lighting products. (Photo: General Electric)
"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,"
says Maryrose Sylvester (News - Alert), president and CEO, GE Lighting. "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's professional solutions business today offers commercial, industrial
and municipal customers a range of legacy lighting solutions and LED
systems for architectural, indoor outdoor, signage, retail and
Albeo Technologies' LED systems-high-bay, low-bay, linear, surface mount
and under cabinet fixtures-are at work in commercial, warehouse,
industrial, cold storage, office, data center, food processing, parking
garage, school, sporting and correctional settings. Its solutions have
helped to illuminate a range of "all-LED" facilities, including one of
the world's 10 largest data centers. Albeo Technologies' products have
been recognized with 16 independently judged awards, including 6 from
the US Department of Energy.
"Today's news is significant for what it enables customers to do with
lighting," says Jeff Bisberg, Albeo Technologies' 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."
Through the acquisition, GE accelerates 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," notes 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."
Albeo Technologies' products are available through existing distribution
channels and now through GE's global distribution network.
For more information, visit the GE
About GE Lighting
GE Lighting invents with the vigor of its founder Thomas Edison to
develop energy-efficient solutions that change the way people light
their world in commercial, industrial, municipal and residential
settings. The business employs about 15,000 people in more than 100
countries, and sells products under the Reveal® and Energy
Smart® consumer brands, and Evolve™, GTx™, Immersion ™,
Infusion ™, Lumination™ and Tetra® commercial
brands, all trademarks of GE. General Electric (NYSE: GE) works on
things that matter to build a world that works better. For more
information, visit www.gelighting.com.
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