Acuity Inc. to Acquire Parameter Technologies for $675 Million
Acuity Inc. has entered into a definitive agreement to acquire Parameter Technologies, a provider of monitoring solutions for data centers and critical infrastructure, for $675 million.
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Acuity Brands (NYSE:AYI) held its fourth-quarter earnings conference call on Thursday. Below is the complete transcript from the call. Benzinga APIs provide real-time access to earnings call transcripts and financial
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Acuity Inc. has entered into a definitive agreement to acquire Parameter Technologies, a provider of monitoring solutions for data centers and critical infrastructure, for $675 million.
Morgan Stanley analyst Chris Snyder maintains Acuity (NYSE:AYI) with a Overweight and lowers the price target from $410 to $380.
Several major companies reported quarterly earnings with mixed results. Accenture surged 15.8% after beating earnings estimates, while McKesson gained 5.3% on maintained guidance. Conversely, Acuity fell 3.4% and Progress Software dropped 8.5% after missing revenue expectations.
Acuity is trading lower Thursday after reporting mixed Q4 results, as a modest revenue miss in its core lighting business weighs on sentiment.