It’s reported that the Vitec Group plc has acquired the business and assets of Litepanels, Inc and Litepanels, LLC, a leading manufacturer of LED-based lights for the television, broadcast, video and film industries. The initial consideration of US$14.5m, will be paid in cash, with additional deferred consideration dependent on future profitability.

It’s reported that The Vitec Group plc announces that it has signed an agreement to acquire the business and assets of Litepanels, Inc and of Litepanels, LLC (together "Litepanels" or "the Business"), the leading manufacturer of LED-based lights for the television, broadcast, video and film industries.