GE Lighting Acquiring Colorado-Based Fixture Company Albeo Technologies

  GE Lighting Acquiring Colorado-Based Fixture Company Albeo Technologies

Business Wire

EAST CLEVELAND, Ohio -- November 26, 2012

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 lightin ...

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, 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 transportation
applications.

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 pressroom.

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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Contact:

GE Lighting
David Schuellerman, 216-266-9702
david.schuellerman@ge.com
 
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