Acquisition to further expand leadership in connected lighting

"We are very pleased to join forces with the teams of WiZ Connected who have developed a great technology platform enabling to address a larger customer base in the growing market of Wi-Fi-based lighting. It perfectly complements Signify's existing offers and will help us to continue to deliver an experience rich in light and intuitive in use for our customers," said Eric Rondolat, CEO of Signify.

"We are pleased to be part of Signify, the world leader in lighting. WiZ is an open IoT platform, accessible to all lighting and electrical vendors, providing the benefits of connected devices to all end-users," said Jean-Eudes Leroy, CEO of WiZ Connected.

"Together with Signify, we will reach a large audience of unaddressed customers with our easy-to-use, scalable solution."

WiZ Connected is headquartered in Hong Kong. Its 53 staff members will continue to sell WiFi-based connected lamps and luminaires across the world under its own brand name.

The transaction is expected to close in the second quarter of 2019. Financial data will not be disclosed.