Lightech manufactures a range of transformers, ballasts and control gear but GE executives stressed the importance of its LED driver offer as crucial to today’s deal. The move is part of a wider trend towards vertical integration among the big traditional lamp makers.
‘For our customers, this acquisition means we will deliver a more energy-efficient LED lighting system, faster,’ GE Lighting chief Maryrose Sylvester told the Press. ‘Combining GE’s power electronics capability with Lightech’s breadth of high-efficiency power supplies and controllability, positions GE to respond to the market with complete systems and higher performance drivers and controls.
‘We’re excited about the opportunities for GE and for our customers.’
Lightech was founded in 1996 by entrepreneur Zvi Schreiber and has experienced rapid growth, supplying over 15 million ballasts worldwide. The deal is subject to regulatory approval and is expected to close by September.