Technology M&A Practice Advised Lucid Design Group on Its Acquisition by Acuity Brands Inc.

OAKLAND, CA – Lucid, provider of the most comprehensive SaaS intelligence platform for building operations, today announced it has been acquired by Acuity Brands, Inc (NYSE:AYI), a leading provider of intelligent lighting, building automation systems, and IoT solutions. Over the last decade Lucid has developed the leading platform for building performance analytics, BuildingOS. The acquisition will enable Lucid to accelerate the continued development of the BuildingOS platform to integrate all facets of building data and expand the applications built on the platform. Lucid will leverage Acuity Brands’ extensive investments in building sensor networks, integration, and controls to extend the capabilities of the platform. Together, BuildingOS and Acuity Brands will transform the way building data is used and unleash the value of intelligent building solutions.

Lucid will continue to grow BuildingOS as an independent and open platform, and will continue to be led by current executives including CEO Will Coleman and Co-Founder Vladi Shunturov. As Lucid joins the Acuity Technology Group, it will continue to extend its data integration, analytic, and workflow capabilities, leveraging Acuity Brands’ technology assets and install base to provide expanded solutions across new applications and segments.

Acuity Brands’ investment in Lucid represents a significant step forward in unlocking the value of IoT within buildings by connecting the dots between advanced sensory network solutions and the broader integrated building data required to drive better operational and business decisions. Lucid’s BuildingOS enables owners, operators, and occupants to find powerful insights in their building data to make buildings more efficient and improve the performance of the people and businesses that rely on them.

“This will allow us to accelerate our mission to enable organizations to harness building data and deliver better buildings,” said Will Coleman, CEO, Lucid, Inc. “We are excited by the partnership with Acuity Brands and the opportunity to leverage Acuity’s broad IoT and control capabilities to deliver a more complete solution to our customers and overcome some of the fundamental hurdles associated with IoT deployment and integration.”
Buildings are being transformed by data and intelligent systems in the same way as every other industry. Hundreds of billions in unnecessary costs, lost revenue, and productivity are at stake. Acuity Brands’ digital lighting-based sensory networks and Atrius software platform combined with the intelligence that Lucid’s BuildingOS can provide will unlock the value of the expanding IoT landscape.

“I am thrilled for Lucid to join Acuity Brands, as we extend the power of our digital networked lighting, building management and IoT solutions,” said Laurent J. Vernerey, President of Acuity Technology Group. “We have the sensory networks, control systems, and IoT integration solutions, and Lucid now allows us to unlock the power of all that data through cloud-based analytics and applications. Lucid’s BuildingOS platform will be central to our investment in the IoT space, and unlocking the value of smart lighting solutions.”

Lucid and Acuity Brands share a vision for an open and integrated smart building platform that leverages best in class technologies and empowers owners, operators, and occupants to improve their building performance and business performance. The power of a building analytics platform is its ability to integrate data from across systems. While Lucid will now be able to leverage the digital lighting networks, sensors, and control capabilities being developed and deployed by Acuity Brands, Lucid will remain an independent and open platform focused on integrating data from any data source within or associated with a building. Lucid has built integrations into over 180 different building data systems and services from utility data to building automation systems, sub-metering, work order systems, and property management solutions. The platform will continue to be data source agnostic and focus on the power of analytics applied to integrated data streams. Acuity Brands’ investment in Lucid will help support the continued expansion of the platform and accelerate the company’s growth.

About Acuity Brands

Acuity Brands, Inc. (NYSE: AYI) is the North American market leader and one of the world's leading providers of lighting and building management solutions. With fiscal year 2017 net sales of $3.5 billion, Acuity Brands currently employs over 12,000 associates and is headquartered in Atlanta, Georgia with operations throughout North America, and in Europe and Asia. The Company's products and solutions are sold under various brands, including Lithonia Lighting®, Holophane®, Peerless®, Gotham®, Mark Architectural Lighting(TM), Winona® Lighting, Juno®, Indy(TM), Aculux®, Healthcare Lighting®, Hydrel®, American Electric Lighting®, Carandini®, Antique Street Lamps(TM), Sunoptics®, Distech Controls®, nLight®, ROAM®, Sensor Switch® and Atrius(TM). To learn more, visit

About Lucid

Lucid provides a data and analytics platform to make data-driven decisions to improve building efficiency and drive better building and business performance. Lucid's SaaS-based BuildingOS platform is deployed in more than 500 organizations, 15,000 buildings and 1.5 billion square feet of commercial buildings. It empowers thousands of professionals at every level of the customer organization to improve energy efficiency, reduce costs, manage capital decisions, and drive business performance from their buildings. For more information, visit

Technology M&A Practice (Formerly Pagemill Partners), a division of Duff & Phelps, served as exclusive financial advisor to Lucid.