LED Linear announced today that is has been acquired by Fagerhult for €40m initial payment and €21m conditional payout through 2018. The Business Wire announcement also discloses that LED Linear was founded 10 years ago, currently has 110 employees and revenue of €21m (with an additional €7m in revenue via joint ventures in the US and India).
I met Michael Kramer at a conference where we both spoke on “embedded lighting”. I was duly impressed by his focus and business philosophy, including their desire to control their own manufacturing and quality. Congrats to Michael and team. LED Linear has proven the value of embedded linear architectural applications and the maturity of the “tape light” product format.