PowerSecure International, an energy services company in Wake Forest, is expanding its interest in the business of light emitting diodes, an energy-efficient source of lighting.
PowerSecure said this morning it is making two moves to boost its presence in LED technology.
The company is buying a majority stake in Innovative Electronic Solutions Lighting, a Morrisville company that's developing an LED streetlight and other products. PowerSecure is paying $4.4 million for a two-thirds stake in IES, with plans to buy the rest of the company later.
And PowerSecure is also increasing its ownership of its EfficientLights subsidiary from 67 percent to 100 percent.
The two acquisitions will be financed by issuing public stock valued at about $20 million.
PowerSecure employs 350 people, including about 150 in the Triangle.