On Monday, LED lighting-maker Revolution Lighting (RVLT) issued an upbeat annual revenue outlook and announced an acquisition, sending RVLT stock soaring more than 23% in morning trading.

RVLT stock jumped after RVLT said it would pay $35.6 million to purchase Value Lighting. RVLT said it would fund the acquisition with cash and common stock. Lighting Value recorded 2013 revenue of $43 million.

The company also issued a business update indicating that it expects to generate revenue of $50 million in 2014, with “organic revenue growth of over 50%.” RVLT also said that it has a “robust pipeline of close to $200 million in actionable opportunities over the next 12 to 18 months.”

Gross margin for this year is predicted at 35% or more. RVLT indicated that fourth-quarter revenue would come in at $7 million, well short of its previous guidance of $10 million due to problems with an overseas order.

RVLT stock closed at $3.36 per share on Friday. RVLT will report its quarterly results on Thursday, Mar. 13.