| Pathway Connectivity Acquired by Acuity Brands |
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Pathway Connectivity is pleased to become part of the Acuity Brands portfolio of innovative energy-efficient lighting, control and daylighting solutions. “The technology and products of Pathway enable lighting solutions that are rapidly encompassing sophisticated lighting networks”, said Vernon J. Nagel, Chairman, President and Chief Executive Officer of Acuity Brands. “The Pathway team brings advanced networking products and engineering capabilities to Acuity Brands that fits into our strategy of expanding the opportunities associated with integrating lighting and controls solutions. We welcome this talented team to the Acuity Brands family,” Nagel continued. “For over 25 years, we have stretched the realm of the possible, integrating disparate lighting and controls systems for demanding theatrical and “architainment” customers,” said Dave Higgins, Pathway Founder, President and Chief Executive Officer. “We are excited to join an industry leader and begin integrating our skills and intellectual property in order to expand the market opportunity as part of Acuity Brands,” Higgins continued.
Acuity Brands Acquires Pathway Connectivity, Inc.ATLANTA – October 5, 2011 – Acuity Brands (NYSE: AYI; “Company”), a market leader in innovative energy-efficient lighting, control and daylighting solutions, today announced that it has acquired for cash Pathway Connectivity, Inc., (“Pathway”). Pathway is a leading manufacturer of networked data communications and interface equipment for architectural and entertainment lighting control applications world-wide. Established in 1985 and based in Calgary, Alberta, Canada, Pathway designs and manufactures innovative electronics that enable lighting control systems to communicate with intelligent lighting fixtures and power devices, even when those products utilize different communications protocols. Terms of the acquisition were not disclosed and the acquisition is not expected to materially impact Acuity Brands future consolidated financial results.
“For over 25 years, we have stretched the realm of the possible, integrating disparate lighting and controls systems for demanding theatrical and “architainment” customers,” said Dave Higgins, Pathway Founder, President and Chief Executive Officer. “We are excited to join an industry leader and begin integrating our skills and intellectual property in order to expand the market opportunity as part of Acuity Brands,” Higgins continued.
Acuity Brands, Inc. is a North American market leader and one of the world’s leading providers of luminaires, lighting control systems and related products and services with fiscal year 2010 net sales of over $1.6 billion. The Company’s lighting and system control product lines include Lithonia Lighting®, Holophane®, Peerless®, Mark Architectural Lighting™, Hydrel®, American Electric Lighting®, Gotham®, Carandini®, RELOC®, Antique Street Lamps™, Tersen®, Winona® Lighting, Synergy® Lighting Controls, Sensor Switch®, Lighting Control & Design™, Dark to Light®, ROAM®, Sunoptics®, acculamp™ and Healthcare Lighting®. Headquartered in Atlanta, Georgia, Acuity Brands employs approximately 6,000 associates and has operations throughout North America, Europe and Asia. Forward-Looking Statements This release contains forward-looking statements, within the meaning of the federal securities laws. Statements that may be considered forward-looking include statements incorporating terms such as “will,” “expects,” “believes,” “intends,” “anticipates,” “may,” and similar terms that relate to future events, performance, or results of the Company. The specific forward-looking statement made in this press release pertains to the expectation that the acquisition is not expected to materially impact the Company’s consolidated financial results. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the expectations or projections expressed in the forward-looking statements. 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. Contacts: Dan Smith - Investor Relations This email address is being protected from spam bots, you need Javascript enabled to view it , 404-853-1423 Jennifer Manocchio – Industry Relations This email address is being protected from spam bots, you need Javascript enabled to view it , 910-772-1688 # # # |