Two UK companies focused on LEDs announced that they have reached an agreement to merge the two companies into one called PhotonStar LED Group Public Limited.
PhotonStar LED Co., Ltd. is a British LED lighting manufacturer that has acquired a company that develops LED arrays and drives lighting and industrial applications - Enfis Group plc. Enfis in March 2007 Already listed on the AIM Securities Exchange. According to the shareholders' approval, the company will be renamed PhotonStar LED Group Public Limited and hopes to be recertified by AIM by the end of December.
The total issued share capital of PhotoStar LED Co., Ltd. requires a total of approximately £5.1 million in consideration shares, which will be covered by the issue of approximately £51 million in consideration for the company's shareholders. At the same time, Enfis increased its assets by approximately £2 million by issuing common shares valued at approximately $19.8 million. Upon completion of the transaction, the company's common stock will increase from the current 15.2 million to 86.39 million.
PhotonStar offers a wide range of LED energy-efficient lighting fixtures for a variety of commercial and residential applications. The company was founded in 2007, but in the first six months of September 30, 2010, PhotonStar's management account showed that the company lost a total of £84,000 under sales of £1,456,000.
Once the deal is reached, PhotonStar hopes to expand its product range by adding architectural lighting fixtures while expanding the sales market through the influence of Enfis Group's arrays and drives. These new products will be sold through PhotoStar's sales team and existing sales channels. At the same time, PhotonStar hopes to capitalize on the Enfis Group's resources to accelerate the development of SmartWhite technology, which is designed to reduce the cost of specific products within the scope of PhotoStar's products.
Enfis will continue to focus on providing LED arrays and lighting engines for specialized areas such as production lighting and UV curing for film and television. PhotoStar wanted to accelerate a series of highly integrated lighting engines and control over it based on his technology and Enfis Group's array products.
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