Shares of FOS Capital (ASX:FOS) have witnessed a significant increase of as much as 10%, reaching A$0.165.

This represents their highest level since late August.

The company, which provides lighting solutions, entered into a binding agreement for the acquisition of the Sydney-based linear lighting manufacturer, KLIK Systems.

The transaction amounted to A$3 million.

The acquisition is expected to increase FOS Capital’s market share in the linear lighting sector as well as streamline manufacturing operations for the company’s products.

The deal is slated for completion within a fortnight.

This has pushed the company’s stock to its biggest intraday jump since the beginning of September.

However, the stock of FOS Capital was down 21.1% for the year till the last closing.

FOS Capital is a company that provides innovative lighting solutions.