Simi Valley lighting company Seesmart Technologies Inc. has been acquired by a Florida information technologies consulting firm in a half-cash, half-stock deal valued at $20 million.
Revolution Lighting Technologies Inc. of Melbourne is buying Seesmart, which makes LED lights and fixtures for commercial, industrial and institutional applications.
“The acquisition of Seesmart is a significant step in the strategic transformation of Revolution Lighting Technologies becoming a leading quality provider of LED lighting solutions,” said Robert LaPenta, chairman of Revolution, in a statement. “The LED market is entering a period of dramatic growth.”
Revolution specializes in project management of technology installation and integration into existing buildings. It has offices in Atlanta, Chicago, Raleigh, N.C.; Minneapolis and Lexington, Ky.
“The combined companies provide a significant platform in terms of both talent and technology, and we are very excited about the potential for dynamic growth this merger creates,” said Revolution Chief Executive Mike Bauer, in a prepared statement.