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Feit Electric Acquires Lifx Assets

Aug 03, 2022•about 3 years ago

Acquiring Company

Feit Electric

Acquired Company

LIFX Assets

Pico RiveraManufacturing

Description

Feit Electric Company, Inc. (“Feit Electric”), a leading global lighting and smart home brand headquartered in California, today announced that it acquired the LIFX assets from Lifi Labs, Inc., including its award-winning and patented smart lighting platform, the custom-built feature-rich app and firmware, product designs, and the LIFX brand.

Company Information

Company

Feit Electric

Location

Pico Rivera, California, United States

About

Founded and headquartered in California, Feit Electric is celebrating over 40 years as a leading global lighting and smart home brand. Through innovative design, supply chain expertise, and industry-leading technology, Feit Electric offers its customers a full portfolio of reliable lighting products including home décor lighting collections, light fixtures, smart and feature-rich high-performance lighting solutions as well as a full line of general household, specialty light bulbs in all shapes, sizes, and configurations. For more information, visit feit.com, and follow us on Twitter, Facebook, Instagram, and YouTube. Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/aa975a96-b1c8-4130-8751-51a1f19226b0 https://www.globenewswire.com/NewsRoom/AttachmentNg/4a89a21e-fc22-4520-9910-ba01ef130d0e https://www.globenewswire.com/NewsRoom/AttachmentNg/c967ddc4-9522-4644-9c76-6ecb873d4888

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M&A Insights

Based on deal data
Integration timeline
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Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed