GE Lighting to acquire leading driver maker Lightech

GE Lighting, a lighting manufacturer based in East Cleveland, OH, has signed an agreement to acquire Lightech, a privately-held manufacturer of LED electronic drivers and halogen transformers for the lighting industry. Based near Tel Aviv, Israel, Lightech has R&D facilities in California and Israel, and commercial teams in Europe, the US and Asia. Terms of the transaction were not disclosed. The transaction is expected to close within the next six to eight weeks.