SavWatt to Acquire 1-800 NY Bulbs
SavWatt USA, Inc., developer of innovative, energy-efficient and cost-effective LED lighting solutions, announced in August that the company has entered into a Letter Of Intent to acquire 1-800 NY Bulbs (www.nybulbs.com). 1-800 NY Bulbs is a leading regional distributor and maintenance provider of commercial lighting fixtures and lamps.
Over its 17 years in business 1-800 NY Bulbs has established a track record for providing high-quality, cost-effective solutions for virtually any commercial need. Subject to an audit, definitive agreements and financing, the acquisition is scheduled to close before November 9, 2012.
On July 20, 2012 Finra finally approved the reverse split of SavWatt’s common stock enabling SavWatt to access funding and utilize its shares for loans, acquisitions and services. The delay was a setback for the company and the company is currently rebuilding the organization and prioritizing its opportunities.
SavWatt focuses on developing innovative, energy-efficient and cost-effective LED lighting solutions. By delivering value-added, application-specific LED lighting systems, customers can significantly reduce energy costs and minimize their carbon footprint. SavWatt’s product families include LED fixtures, lamps, street lights, and parking lights.