Revolution Lighting Technologies Inc. (Nasdaq: RVLT) has closed a $15 million deal for Relume Technologies.
The purchase price included $5 million in cash, plus $10 million in stock at $4.59 per share.
Oxford, Mich.-based Relume makes LED lights used in municipal lighting, commercial signage, outdoor advertising, transportation and by the U.S. military.
Revolution Lighting, headquartered in Stamford, Conn., designs, manufactures and sells LED lights to the industrial, commercial and government markets.
The deal gives Revolution Lighting a LED lighting product portfolio for outdoor lighting and smart grid control systems. Revolution expects the new product portfolio the accelerate growth and drive new market penetration.