Top LED Lighting Companies Merge
LED Holdings has teamed up with Lighting Science Group to create an experienced LED lighting company. As part of the merger, LED Holdings has contributed all of its assets, including $15 million in cash, to Lighting Science Group in exchange for stocks and voting power. In June 2007, LED Holdings acquired custom LED lighting and digital lighting controls manufacturer LED Effects.
“We are pleased to be joining forces with LED Holdings at a time when the market for LED technology is truly taking shape,” said Lighting Science Group president and COO Ken Honeycutt. “Customers looking for any kind of LED solution will be able to come to us and find the right people, technology and service to deploy the most advanced, creative and sustainable lighting solutions on the market today.” Honeycutt will retain his current role in the new merged company.
Stock owners in LED Holdings see this as a tremendously good move for the companies and the industry as a whole. With the growing understanding of the benefits of LED technology – longer bulb life, incredible energy-efficiency, design flexibility – the industry is ready for a strong company to lead the innovation of next generation LED lighting. It is expected that LED lighting will replace conventional light sources in the next five to 10 years.
The new, combined entity will retain the Lighting Science Group name and will continue trading on the NASDAQ under the symbol LSGP. This solid-state lighting company may be an attractive investment opportunity for some of you out there, especially since Color Kinetics has become part of Philips.
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