Tech Company M&A Transactions
Solais Lighting Acquisition
Solais Lighting, based in Stamford, was bought by PowerSecure International. The transaction price was $15 million.
Transaction Overview
Company Name
Acquired By
Announced On
4/18/2013
Transaction Type
M&A
Amount
$15,000,000
M&A Terms
PowerSecure paid the stockholders of Solais $6.5 million in cash plus 675,160 shares of PowerSecure common stock and assumed approximately $0.2 million in negative working capital for a total transaction value of $15 million. The PowerSecure shares were valued at their volume-weighted average closing sale price (VWAP) as reported on the Nasdaq Global Select Market over the five business days immediately preceding the closing date of April 12, 2013, or $12.22 per share. All outstanding shares of capital stock of Solais were exchanged for the merger consideration.
Company Information
Company Status
Acquired or Merged
Industry
Electronics
Mailing Address
470 West Ave.
Stamford, CT 06902
USA
Stamford, CT 06902
USA
Phone
Website
Email Address
Overview
Solais Lighting is a market-driven manufacturing company that has designed and built the world's premier LED lamps with the light-output, focused-beam and full-dimming features required to replace high-efficiency halogen reflector lamps.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
James Leahy
Chief Technical Officer
Steve Johnson
VP - Marketing
George Stroumboulis
VP - Sales
Glenn Bordfeld
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