Business news: Color Kinetics, Dialight, CMD, OnScreen, Avnet
Another patent for Color Kinetics, Dialight reports a successful year, CMD acquires Arques, OnScreen receives $10.3m funding, and Avnet partners with MPS.
Another patent for Color Kinetics
Color Kinetics has been awarded another LED-related patent. US patent number 7,014,336 entitled "Systems and methods for generating and modulating illumination conditions" was published on March 21, 2006, and has a filing date of November 20, 2000.
The patent has a massive 243 claims, and relates to LED-based illumination systems and methods for generating and/or modulating illumination conditions to generate high-quality light of a desired and controllable color, for creating lighting fixtures for producing light in desirable and reproducible colors, and for modifying the color temperature or color shade of light within a prespecified range after a lighting fixture is constructed.
In one embodiment, LED lighting units capable of generating light of a range of colors are used to provide light or supplement ambient light to afford lighting conditions suitable for a wide range of applications.
Dialight reports successful year
Applied LED technology company Dialight has reported a "successful" 2005, with a strong increase in profits seen in the second half as a result of increased orders and sales.
Profit before tax and exceptionals for the year to 31 December rose 4% to GBP 4.5m on turnover from continuing operations of GBP56.1m, up from GBP55.3m.
Revenue during the second half hit GBP30.3m from GBP25.8m the previous year, while profit before tax was GBP3.1m versus GBP1.4m in 2004.
Chairman Harry Tee said, "The disposal of the Solartron businesses and the return of capital to shareholders was the final step of the board's strategy of repositioning the group."
"The company is now focused on the emerging solid-state lighting market with high growth potential and with a new name and new management."
Chief executive Roy Burton said, "Dialight is well positioned to grow as the application of solid state lighting technology expands. The acquisition of Lumidrives, early in 2006, enhances our position in this emerging sector."
The company said it is confident that the continuing operations will show progress in the current year.
California Micro Devices to acquire Arques Technology
Analog IC supplier California Micro Devices has entered into a definitive agreement to acquire privately held Arques Technology.
Arques is a fabless manufacturer of innovative analog semiconductor devices including white LED drivers for mobile handsets.
Founded in 2001, Arques currently has 25 employees at its Santa Clara headquarters and its Taipei and Beijing locations. The acquisition will be a cash transaction consisting of an initial payment of approximately $8.0 million and an earn-out based on performance of the Arques product line during the eighteen months after the acquisition is completed. The transaction is expected to close in early April, 2006.
OnScreen completes $10.3 million funding
LED signage manufacturer OnScreen Technologies has completed a private placement of $10.3 million from several existing shareholders and new investors.
The entire $10.3 million has converted to equity, leaving the company effectively debt free. Proceeds will be used primarily for working capital and general corporate growth. The infusion of cash allows the company to continue to develop and launch its patent-pending LED signage products for commercial and government markets.
"We are quite pleased to have raised $10.3 million," said Charles Baker, CEO and Chairman of OnScreen. "This capital will help us bring our innovative technologies to market more aggressively. In order to execute our business objectives, we recently added several experienced executives to our sales team. I'm confident that we now have the right products, team and resources to capitalize on our tremendous growth opportunities and drive shareholder value."
Avnet Memec and Monolithic Power Systems enter distribution agreement
MPS develops and markets proprietary, advanced analog and mixed-signal semiconductors, including LED drivers.
Avnet Memec will be the exclusive distributor of MPS integrated circuit products in the United States, Canada, Mexico and South America.