Acuity Brands, Inc. Announces Acquisition of Lucid Design Group, Inc.
February 12 2018 - 10:16AM
ATLANTA -
February 12, 2018 - Acuity Brands, Inc. (NYSE: AYI) today
announced it has acquired Lucid Design Group, Inc. (Lucid), an
Oakland, CA-based provider of building analytics through its
industry-leading BuildingOS® business intelligence platform.
The Company believes the combination of Lucid's BuildingOS
platform and Acuity Brands' large installed base of networked
sensors for lighting and building automation controls and its
Atrius(TM) Internet of Things (IoT) ecosystem will provide the
industry's most comprehensive building operations and analytics
platform, enabling customers to have unparalleled insights about
their energy use and other building operations.
Lucid provides a data and
analytics platform to make data-driven decisions to improve
building efficiency and drive energy conservation and savings. Its
SaaS-based BuildingOS platform enables owners, operators, and
occupants to gain powerful insights into the operations of their
buildings, providing the ability to make them more efficient and
improve the performance of the people and businesses utilizing
these strategic assets.
"Lucid's technology will allow us
to extend the power of our digital networked lighting, building
management and IoT solutions," said Laurent J. Vernerey, President
of the Acuity Technology Group and Executive Vice President of
Acuity Brands, Inc. "The Lucid acquisition supports our strategy of
further unlocking the value of Internet of Things (IoT)
capabilities within buildings by connecting advanced sensory
network solutions with the broader integrated building data
required to drive better operational and business performance."
BuildingOS will remain an
independent and open platform focused on integrating any data
source associated with a building, from modern digital lighting
networks to legacy systems and operations data. Lucid has built
integrations into over 180 different building data systems and
services, including systems tracking utility data, building
automation systems, work order systems, and property management
solutions. The platform will continue to be data source agnostic
and focus on the power of analytics applied to integrated data
streams.
"We are excited by the opportunity
to leverage Acuity Brands' broad IoT and control capabilities to
deliver a more complete solution to our customers," said Will
Coleman, CEO, Lucid Design Group, Inc. "Buildings are being
transformed by data and intelligent systems in the same way as
every other industry, helping to address and manage unnecessary
costs, lost revenue, and productivity deficiencies. Combining the
intelligence Lucid's BuildingOS platform will provide with Acuity
Brands' digital lighting-based sensory networks and Atrius software
platform will help customers unlock the value of the expanding IoT
landscape within buildings."
BuildingOS has been adopted by
more than 500 customers and provides analytics for more than 15,000
buildings. It empowers over 12,000 energy and sustainability
management professionals in maximizing energy efficiency while
improving occupant satisfaction within their buildings.
The acquisition of Lucid is not
expected to have a material impact on the fiscal 2018 consolidated
financial performance of Acuity Brands. 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 2017 net sales of $3.5 billion, Acuity Brands currently
employs over 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®, Peerless®,
Gotham®, Mark Architectural Lighting(TM), Winona® Lighting, Juno®,
Indy(TM), Aculux®, Healthcare Lighting®, Hydrel®, American Electric
Lighting®, Carandini®, Antique Street Lamps(TM), Sunoptics®,
Distech Controls®, nLight®, ROAM®, Sensor Switch® and Atrius(TM).
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," "could," "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 Lucid's technology allowing Acuity Brands
to extend the power of it digital networked lighting, building
management and IoT solutions, and the expectation that the
acquisition of Lucid will not have a material impact on the fiscal
2018 consolidated financial performance of Acuity Brands.
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,
2017. 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.
# # #
Media
Contact:
Neil Egan
770-860-2957
Email: neil.egan@acuitybrands.com
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Acuity Brands, Inc via Globenewswire
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