http://www.newenergyworldnetwork.com/investor-news/renewable-energy-news/by-technology/energy-efficiency/dialight-buys-lighting-controls-company-airinet.html

 

UK LED company Dialight has completed the acquisition of assets owned by Airinet, a lighting controls business, for $2.6m.

 

The deal was forged through Dialight's US subsidiary and could see additional sums payable based on future revenue through to 2020 of up to $7.4m.

Airinet is headquartered in Pueblo, Colorado and develops next generation lighting control, energy management, and automated network control systems.

All employees will transfer to Dialight in addition to the patents owned by Airinet.

Roy Burton, Group Chief Executive, said, 'The acquisition of controls capability will be key to further driving the value proposition and improving payback to our hazardous LED lighting customers.'