Acuity Brands Announces Acquisition of LocusLabs, Inc.
November 25 2019 - 4:15PM
Acuity Brands, Inc. (NYSE: AYI) announced today it has acquired
LocusLabs, Inc., a leading indoor mapping and location platform.
The LocusLabs software platform supports navigation applications
(apps) used on mobile devices, web browsers and digital displays in
airports, event centers, multi-floor office buildings and campuses.
Visitors employing LocusLabs’ software can easily search, explore
and navigate large, complex indoor spaces.
LocusLabs’ proprietary reality-capture tools and
rendering processes produce a highly detailed 3D map of the
interior of a large venue in a matter of days. In turn, LocusLabs
Venue Management System software allows venue managers to populate
and maintain 3D maps with thousands of places, products and other
points of interest, and to provide integration of live data
streams, such as security wait times. The combination of LocusLabs
technology with the Atrius® IoT platform from Acuity Brands will
provide venues with an indoor positioning system that can be
rapidly deployed and easily maintained, enabling visitor and
employee wayfinding, asset tracking and business analytics.
“We are thrilled LocusLabs is a member of the
Acuity Brands technology portfolio,” said Audwin Cash, Acuity
Brands Lighting Senior Vice President, Atrius Enterprise Solutions.
“LocusLabs has the platform and tools that enable airline, airport
and smart workplace applications to deploy location-aware
technologies to help people find their way, to assist operators in
management of their critical assets and to provide them with tools
to support this technology. We are excited to demonstrate to our
customers how the LocusLabs solution enhanced with our Atrius
services can transform navigating indoor experiences.”
“Since day one, our mission has been to provide
global venues, enterprises and companies a digital platform to
communicate, share and manage all information about their physical
space,” said Campbell Kennedy, CEO & Founder of LocusLabs, Inc.
“LocusLabs aims to help people find anything they are looking for
inside large complex spaces, by providing the most information-rich
maps and indoor location experience in the world. Now, as
part of the Acuity Brands solution, we will be able to greatly
amplify the value and extent of our offering.”
The acquisition is not expected to materially
impact the Acuity Brands’ fiscal 2020 consolidated financial
performance. Terms of the acquisition were not disclosed.
About Acuity
Brands
Acuity Brands, Inc. (NYSE: AYI) is the North
American market leader and one of the world’s leading providers of
lighting and building management solutions. With fiscal year 2019
net sales of $3.7 billion, Acuity Brands currently employs
approximately 12,000 associates and is headquartered in Atlanta,
Georgia with operations throughout North America, and in Europe and
Asia. The Company’s products and solutions are sold under various
brands, including Lithonia Lighting®, Holophane®, Aculux®, American
Electric Lighting®, A-Light™, Antique Street Lamps™, Atrius®,
Cyclone™, DGLogik™, Distech Controls®, DTL®, eldoLED®, Eureka®,
Gotham®, Healthcare Lighting®, Hydrel®, Indy™, IOTA®, Juno®,
Lucid®, Luminaire LED™, Luminis®, Mark Architectural Lighting™,
nLight®, Peerless®, RELOC® Wiring, ROAM®, Sensor Switch®,
Sunoptics® and Winona® Lighting. Visit us at
www.acuitybrands.com
Forward Looking
Information
This release contains forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements that may be considered
forward-looking include statements incorporating terms such as
"expects," "believes," "intends," “estimates”, “forecasts,”
"anticipates," “will,” “may,” “should”, “suggests,” “remain,” and
similar terms that relate to future events, performance, or results
of the Company and specifically include statements made in this
press release regarding: the acquisition is not expected to
materially impact the Acuity Brands’ fiscal 2020 consolidated
financial performance. Forward-looking statements are subject
to certain risks and uncertainties that could cause actual results
to differ materially from the historical experience of Acuity
Brands and management's present expectations or projections. These
risks and uncertainties include, but are not limited to, customer
and supplier relationships and prices; competition; ability to
realize anticipated benefits from initiatives taken and timing of
benefits; market demand; litigation and other contingent
liabilities; and economic, political, governmental, and
technological factors affecting the Company. Please see the
other risk factors more fully described in the Company’s SEC
filings including risks discussed in Part I, “Item 1a. Risk
Factors” in the Company’s Annual Report on Form 10-K for the year
ended August 31, 2019. The discussion of those risks is
specifically incorporated herein by reference. Management
believes these forward-looking statements are reasonable; however,
undue reliance should not be placed on any forward-looking
statements, which are based on current expectations. Further,
forward-looking statements speak only as of the date they are made,
and management undertakes no obligation to update publicly any of
them in light of new information or future events.
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Media Contact: Neil Egan Neil.Egan@acuitybrands.com
770-860-2957
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