Acuity Brands Buys DGLogik

Acuity Brands, Inc. AYI revealed that it acquired 100 percent of the equity stake of DGLogik, Inc. for undisclosed terms and conditions. According to the company, the San Francisco Bay Area-based firm provides innovative software solutions enabling, as well as, visualizing the Internet of Things.

Acuity Brands said DGLogik's solutions provide users with the intelligence to manage energy usage better apart from enhancing facility performance. The company added that its customizable applications and dashboards enable users to easily visualize, analyze and maximize facility operations. That was based upon different data sets from multiple types of devices.

The company believes the DGLogik acquisition supports its tactics to expand and improve its portfolio of holistic IoT solutions for the growing market for intelligent networked systems. The company said the system collects and exchanges data to boost efficiency, and offer a number of other economic benefits resulting from data analytics to better enable smart buildings and smart cities.

Acuity Brands Chairman, President, and CEO, Vernon Nagel, reacted to say, "We are excited about the capabilities that DGLogik brings to our already extensive deployments of networked digital lighting. We believe DGLogik's expertise in the development of technologies focused on advanced data aggregation, association, and visualization creates an exciting opportunity to accelerate the expansion of Acuity Brands' portfolio of holistic IoT solutions."

He continued, "This acquisition supports our efforts to provide our customers with solutions that will allow them to easily interact with various sets of data from various devices, providing them with the intelligence to make meaningful business decisions to optimize the performance of their businesses."

On Thursday, the stock traded 1.39 percent up.