Acuity Inc. reports news around its industrial technology business, which designs, manufactures, and markets lighting, lighting controls, building management solutions, and an audio, video and control platform. The company operates through Acuity Brands Lighting and Acuity Intelligent Spaces, serving building, commercial, architectural, specialty lighting, controls, and intelligent-spaces applications.
Recurring company updates cover quarterly and annual results, sales growth, operating profit, margins, diluted EPS, adjusted non-GAAP measures, EBITDA, free cash flow, and segment performance. Acuity news also includes dividend actions, completed acquisitions, share repurchases, debt repayment, and other capital-allocation developments tied to its lighting and intelligent-building technology portfolio.
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Acuity Brands (NYSE: AYI) has announced its plan to acquire KE2 Therm Solutions, a company specializing in intelligent refrigeration control solutions. This acquisition will extend Acuity's market reach into the commercial refrigeration sector, targeting the transition from analog to digital controls. The deal, expected to close in spring 2023, will integrate KE2 Therm into Acuity's Distech Controls within the Intelligent Spaces Group. Acuity aims to leverage KE2 Therm's technology to enhance customer access and unlock new opportunities, ultimately improving profitability through increased efficiency. Both companies will operate independently until the acquisition finalizes.