GE Lighting To Buy Albeo Technologies
EAST CLEVELAND, Ohio (AP) -- GE Lighting is buying LED fixture maker Albeo Technologies Inc. in order to meet the demand for energy-efficient high-bay LED lighting products.
Financial terms were not disclosed.
Privately held Albeo Technologies is based in Boulder, Colo. Its LED systems, which include high-bay, low-bay, linear, surface mount and under cabinet fixtures, are used in commercial, warehouse, industrial, cold storage, office, data center, food processing, parking garage, school, sporting and correctional environments.
GE Lighting is part of General Electric Co. Shares of General Electric shed 8 cents to $20.96 in afternoon trading on Monday.