|Acuity Brands, Inc. Announces Acquisition of Lucid Design Group, Inc.|
(GLOBE NEWSWIRE via COMTEX) --
ATLANTA - February 12, 2018 - Acuity Brands, Inc. (NYSE: AYI) today announced it has acquired Lucid Design Group, Inc. (Lucid), an Oakland, CA-based provider of building analytics through its industry-leading BuildingOS® business intelligence platform. The Company believes the combination of Lucid's BuildingOS platform and Acuity Brands' large installed base of networked sensors for lighting and building automation controls and its Atrius(TM) Internet of Things (IoT) ecosystem will provide the industry's most comprehensive building operations and analytics platform, enabling customers to have unparalleled insights about their energy use and other building operations.
Lucid provides a data and analytics platform to make data-driven decisions to improve building efficiency and drive energy conservation and savings. Its SaaS-based BuildingOS platform enables owners, operators, and occupants to gain powerful insights into the operations of their buildings, providing the ability to make them more efficient and improve the performance of the people and businesses utilizing these strategic assets.
"Lucid's technology will allow us to extend the power of our digital networked lighting, building management and IoT solutions," said Laurent J. Vernerey, President of the Acuity Technology Group and Executive Vice President of Acuity Brands, Inc. "The Lucid acquisition supports our strategy of further unlocking the value of Internet of Things (IoT) capabilities within buildings by connecting advanced sensory network solutions with the broader integrated building data required to drive better operational and business performance."
BuildingOS will remain an independent and open platform focused on integrating any data source associated with a building, from modern digital lighting networks to legacy systems and operations data. Lucid has built integrations into over 180 different building data systems and services, including systems tracking utility data, building automation systems, work order systems, and property management solutions. The platform will continue to be data source agnostic and focus on the power of analytics applied to integrated data streams.
"We are excited by the opportunity to leverage Acuity Brands' broad IoT and control capabilities to deliver a more complete solution to our customers," said Will Coleman, CEO, Lucid Design Group, Inc. "Buildings are being transformed by data and intelligent systems in the same way as every other industry, helping to address and manage unnecessary costs, lost revenue, and productivity deficiencies. Combining the intelligence Lucid's BuildingOS platform will provide with Acuity Brands' digital lighting-based sensory networks and Atrius software platform will help customers unlock the value of the expanding IoT landscape within buildings."
BuildingOS has been adopted by more than 500 customers and provides analytics for more than 15,000 buildings. It empowers over 12,000 energy and sustainability management professionals in maximizing energy efficiency while improving occupant satisfaction within their buildings.
The acquisition of Lucid is not expected to have a material impact on the fiscal 2018 consolidated financial performance of Acuity Brands. Terms of the acquisition were not disclosed.
About Acuity Brands
Acuity Brands, Inc. (NYSE: AYI) is the North American market leader and one of the world's leading providers of lighting and building management solutions. With fiscal year 2017 net sales of $3.5 billion, Acuity Brands currently employs over 12,000 associates and is headquartered in Atlanta, Georgia with operations throughout North America, and in Europe and Asia. The Company's products and solutions are sold under various brands, including Lithonia Lighting®, Holophane®, Peerless®, Gotham®, Mark Architectural Lighting(TM), Winona® Lighting, Juno®, Indy(TM), Aculux®, Healthcare Lighting®, Hydrel®, American Electric Lighting®, Carandini®, Antique Street Lamps(TM), Sunoptics®, Distech Controls®, nLight®, ROAM®, Sensor Switch® and Atrius(TM). Visit us at www.acuitybrands.com.
Forward Looking Information
This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that may be considered forward-looking include statements incorporating terms such as "expects," "believes," "intends," "estimates", "forecasts," "anticipates," "could," "may," "should", "suggests," "remain," and similar terms that relate to future events, performance, or results of the Company and specifically include statements made in this press release regarding Lucid's technology allowing Acuity Brands to extend the power of it digital networked lighting, building management and IoT solutions, and the expectation that the acquisition of Lucid will not have a material impact on the fiscal 2018 consolidated financial performance of Acuity Brands. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from the historical experience of Acuity Brands and management's present expectations or projections. These risks and uncertainties include, but are not limited to, customer and supplier relationships and prices; competition; ability to realize anticipated benefits from initiatives taken and timing of benefits; market demand; litigation and other contingent liabilities; and economic, political, governmental, and technological factors affecting the Company. Please see the other risk factors more fully described in the Company's SEC filings including risks discussed in Part I, "Item 1a. Risk Factors" in the Company's Annual Report on Form 10-K for the year ended August 31, 2017. The discussion of those risks is specifically incorporated herein by reference. Management believes these forward-looking statements are reasonable; however, undue reliance should not be placed on any forward-looking statements, which are based on current expectations. 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.
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Source: Acuity Brands, Inc via Globenewswire