Recently, Lamina Lighting, a seven-year-old LED lighting company, said that it is selling its assets to Lighting Science Group Corporation (LSG), which makes customized LED lighting fixtures.
It's reported that Lighting Science Group is paying $4.5 million in cash for Lamina's assets, but the total could go up another $10.5 million based on Lamina's sales in 2009. LSG will take out a $20 million line of credit to finance the deal. Lamina itself has raised at least $16 million, including a round in 2005 and one last year. It had revenue of $2.1 million for the first six months of this year. So it appears that the company didn't sell itself from a position of strength.
LEDs consume less electricity than compact fluorescent and incandescent bulbs and can be tuned to a wide range of colors and shapes. They are still more expensive than other bulbs, however, so they are largely used in commercial installations.
