By Renée Francoeur
Exenia is a privately owned company founded in 2010 and has been most active in the Italian and southern European markets, largely for retail, hospitality and museum environments, Lumenpluse says.
“We were drawn to the design and quality of Exenia’s product families. They fully complement and expand our Lumenalpha family of products, deepening our penetration into the hospitality market,” says François-Xavier Souvay, president and CEO of Lumenpulse. “Our intention is to upgrade these products with Lumenpulse’s proprietary and patented technologies”.
Dario Nistri, Exenia’s founder and managing director, will remain with Exenia in that role and will manage all of Lumenpulse’s operations in Italy, Lumenpulse notes.
The purchase price of approximately $14.9 million (9.9 million EUR) was paid primarily in cash and by issuance of common shares of Lumenpulse to Exenia shareholders, according to Lumenpulse.
Management says it expects this transaction—which is subject to customary post-closing adjustments—to have a neutral to slightly accretive impact on Lumenpulse’s consolidated earnings per share for the current fiscal year, and to start delivering its full benefit in the next fiscal year.