St. Paul, Minn.-based 3M has invested in MSi Lighting, headquartered in Boca Raton, Florida. The two companies have been working together for the past year on a line of LED lights for multiple applications. Terms of the transaction were not disclosed.
“3M’s Light Management platform enables the company to manipulate light in different ways, and we are committed to developing high-quality LED lights,” says Gabi Sabongi, VP/3M Corporate Ventures. “Solid-state lighting technology has the potential to reduce U.S. lighting energy usage by nearly one half and contribute significantly to the nation’s climate change solutions. MSI’s technology is a great fit with 3M and takes our business relationship to the next level in a way that complements both companies.”
“The relationship between MSi and 3M is already strong,” adds MSi President John Burke. “This investment allows us to further share ideas and innovations in LED. With 3M’s range of technologies and expertise in optical science, we are very excited about the future and new ways to serve customers.”