|Acuity Brands, Inc. Announces Acquisition of IOTA Engineering|
ATLANTA - May 1, 2018 - Acuity Brands, Inc. (NYSE: AYI) today announced it has acquired IOTA Engineering, L.L.C. (IOTA), a Tucson, AZ-based manufacturer of highly engineered emergency lighting products and power equipment for commercial and institutional applications, both in the U.S. and internationally.
IOTA's product portfolio includes LED emergency drivers, emergency solutions for fluorescent ballasts and LED retrofits, emergency inverters, and emergency lighting controls and accessories. IOTA was the first to bring UL Classified LED emergency drivers to the industry, enabling specifiers and distributors to offer LED emergency solutions for field installations and retrofit projects. IOTA's product portfolio will complement and align with Acuity Brands' existing Power Sentry® emergency product line to form a market-leading solution offering.
"The acquisition of IOTA supports the expansive smart building and lighting solutions strategy of Acuity Brands," said Laurent Vernerey, President of the Acuity Technology Group and Executive Vice President of Acuity Brands, Inc. "IOTA's industry-leading technology coupled with its reputation for providing superior customer service will further enhance Acuity's market position in emergency lighting and equipment."
The acquisition is not expected to materially impact the Company's fiscal 2018 consolidated financial performance. 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®, Atrius(TM) and Lucid®. 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 IOTA's industry-leading technology coupled with its reputation for providing superior customer service will further enhance Acuity's market position in emergency lighting and equipment, and the expectation that the acquisition of IOTA 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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