Dialight (LON:DIA) , the UK based LED technology specialist, has acquired Danish company BTI Light Systems A/S, in a move that will boost its presence in the market for signalling and safety equipment in the wind, marine and airport industries.

Dialight is buying the business for £3.0 million, of which £2.1 million is payable in cash with the remainder in Dialight shares. Last year BTI posted revenues of £3.7 million and a post-tax profit of £0.3 million and the acquisition is expected to be earnings accretive in 2010.

Roy Burton, Dialight’s chief executive, said: “The acquisition of BTI enhances Dialight's rapidly growing signalling business, providing a strong channel to the growing European Offshore Wind market. This complements Dialight's already significant North American penetration of the Wind Turbine market and strengthens our presence in Europe.”

The deal had no immediate impact on Dialight’s share price of 253.75p but will be a welcome addition to the company’s key Signals and Illumination division. Last year the division contributed £46.4 million to the company’s overall £77.3 million of revenue along with £3.3 million of its overall £5.5 million operating profit.

In its March results, the company said it believed the Signals and Illumination business was at “the early stages of worldwide growth and the performance in 2009 provides a very solid foundation for the coming year”.

Unlock the rest of this article with a 14 day trial

Unlock with Email
Unlock with Google

Already have an account?
Login here