Acuity Brands Gets Financial Support to Develop Its Solid-State Lighting Solutions
Jul 27, 2010 Acuity Brands has got two kinds of financial support to develop its Solid-State Lighting solutions.
One is from an undisclosed amount of cash the remaining outstanding capital stock of Renaissance, Before this cooperation, Acuity Brands involved a strategic partnership with Renaissance which included a minority ownership in the company and a license to the company's intellectual property estate, including its Constructive Occlusion® optical system currently utilized in the successful and rapidly growing Gotham® Ecos downlighting family.
The other is from another innovative technology company an intellectual property portfolio that includes certain foundational patents that were exclusively licensed to Renaissance and other proprietary technology that will enhance the company's capabilities in lighting sensors and related controls. But terms of this separate intellectual property purchase were not disclosed.
Author: BIO T&T
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