Conventional Lighting Company, LSI to Acquire LED Lighting and Graphics Company, SACO

LSI, a maker of non-SSL architectural indoor lighting located in Cincinnati,
Ohio USA, will acquire SACO, an LED graphics, lighting, display, and billboard
company of Montreal, Canada. SACO
Technologies Inc.
is the company most known for producing one of the largest
LED video screens in the world for the NASDAQ in New York’s Times Square.
(Ref: recent
News
). SACO Technologies is also a certified producer of Philips Lumileds’
LUXEON technology. LSI Industries Inc.
announced today that it has acquired virtually all of the assets of SACO Technologies
Inc. for $23 million in cash, 1,418,355 shares of LSI common stock, and the
assumption of certain debts. LSI indicated that SACO’s management team
and employees will continue operations in Montreal. Fred Jalbout, CEO of SACO
Technologies, will become president of the LSI Technology Solutions Plus business
segment.