Acuity Brands, Inc. (NYSE: AYI), Atlanta, announced that it has acquired the remaining outstanding capital stock of Renaissance Lighting, Inc., a privately-held manufacturer of solid-state light-emitting diode (LED) architectural lighting for an undisclosed amount. Through a strategic partnership, Acuity previously owned a minority stake in Herndon, Va.-based Renaissance, which offers a full range of LED-based specification-grade downlighting luminaires and has developed an extensive intellectual property portfolio related to advanced LED optical solutions and technologies.
Acuity Brands also purchased an intellectual property portfolio "from another innovative technology company" that includes certain foundational patents that were exclusively licensed to Renaissance and other proprietary technology that will enhance the company's capabilities in lighting sensors and related controls. Terms of this separate intellectual property purchase were not disclosed.
"The acquisition of Renaissance and the purchase of related intellectual property support the Company's strategy to deliver superior, technologically-advanced lighting solutions," said Vernon J. Nagel, chairman, president and CEO of Acuity Brands. "This acquisition will extend our innovation capabilities in solid-state lighting and controls, enabling Acuity Brands to continue to deliver leading-edge lighting solutions to the market."