GE acquires LED manufacturer

GE Lighting today announced it has signed an agreement to acquire Lightech, a privately held, advanced lighting technology leader based near Tel Aviv, Israel, with commercial teams in Europe, the U.S. and Asia. Lightech specializes in providing LED electronic drivers, plus halogen transformers, to the lighting industry. The purchase price was not disclosed.

"We are thrilled to be teaming with one of the world's technology leaders in LED drivers – a key intelligent power supply technology for LED lighting systems," said GE Lighting President and CEO Maryrose Sylvester. "For our customers, this acquisition means we will deliver a more optimized, energy-efficient LED lighting system –- faster."