LSI Industries acquires AdL Technology

Thu. July 23, 2009; Posted: 02:14 PM

Jul 23, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- LYTS | Quote | Chart | News | PowerRating -- LSI Industries, Inc., an image solutions company, has acquired AdL Technology and related companies (AdL Engineering and Kelmilfeen) for a consideration of approximately $19.33 million. Both LSI and AdL Technology are based in the US.

AdL Technology is an electronics manufacturing services provider that designs, engineers, and manufactures custom designed circuit boards, assemblies, and sub-assemblies.

The consideration consists of 2,469,676 shares of LSI's unregistered common stock, cash of $1.33 million, and assumed indebtedness of $3.53 million.

Announcement (June 29, 2009):

LSI has reached an agreement in principle to acquire AdL Technology and related companies.

The consideration for the transaction is expected to be approximately $13 million. Under the terms of the agreement, a significant portion of the consideration is expected to be settled in shares of LSI's common stock, plus the assumption of approximately $4 million of long-term debt.

The transaction is anticipated to close by the end of July 2009.

Deal Value (US$ Million) 19.33
Deal Type                Acquisition
Sub-Category             Majority Acquisition
Deal Status              Completed: 2009-07-22

Deal Participants

Target (Company)   AdL Technology
Acquirer (Company) LSI Industries, Inc.

Deal Rationale

The transaction would enable LSI to further strengthen its light-emitting diode product line.

For full details for LYTS click here.

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