A small Syracuse-based industrial company just announced its acquisition of Quantum Energy, LLC, which has a 47-year history in lighting sales and installation specializing in LED conversions for businesses. Shares of Znergy, Inc. (OTCPK:ZNRG) traded higher on the news as this acquisition is expected to result in greater efficiencies and further increase the company’s nationwide market share.
Znergy is provider of energy efficient lighting products, lighting controls and energy management solutions. The Company’s management is executing a growth strategy through developing large regional and national accounts, rolling out sales and installation teams across the United States, and through mergers and acquisitions, licensing and strategic partnerships with innovative technology companies.
Traders were bullish on the news as shares quickly climbed to a session high of $0.136/share (+36%) following the news. This move provided a breath of fresh air for long term shareholders, as this could potentially be signaling an upward breakout of the trading range the stock has been bound to over the last few months.