Acuity Brands Acquires Pathway Connectivity, Inc.
ATLANTA - October 4, 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.
Pathway is strategically positioned at the intersection between architectural and entertainment lighting. Its established management team and product portfolio support a diverse customer base, and serve a broad range of applications from auditoriums and conference rooms to theatre and television, theme parks, cruise ships and concert tours. Pathway's innovative product portfolio provides interoperability solutions for sophisticated lighting control systems. These real-time applications demand the highest degree of network reliability and performance in order to deliver spectacular visual experiences for live audiences as well as occupants in dynamic architectural environments.
"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.
Pathway will make its debut as part of Acuity Brands at the LDI2011 Trade Show and Conference at the Orange County Convention Center in Orlando, Florida, October 28-30, 2011, booth #1257.
For additional information, please visit Acuity Brands and Pathway on the web and Acuity Brands' YouTube® Channel. You can also become a fan of Acuity Brands on Facebook® and follow Acuity Brands on Twitter®.
About Acuity Brands
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(TM), Hydrel®, American Electric Lighting®, Gotham®, Carandini®, RELOC®, Antique Street Lamps(TM), Tersen®, Winona® Lighting, Synergy® Lighting Controls, Sensor Switch®, Lighting Control & Design(TM), Dark to Light®, ROAM®, Sunoptics®, acculamp(TM) 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
Dan.Smith@acuitybrands.com, 404-853-1423
Jennifer Manocchio - Industry Relations
jennifer@sweeneypr.com, 910-772-1688
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