May 20, 2019
Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, expands its business for agricultural lighting as it acquires Once Inc., based in Plymouth, Minnesota, and iLOX, based in Vechta, Germany. ONCE and iLOX are market leaders in the design and manufacturing of animal-centric lighting. These tailor-made lighting systems improve the quality of life for livestock, which leads to healthier and enhanced production for the farmer.
“With this acquisition, we add know-how, technology and expertise in animal lighting that complements ours in horticulture lighting. We are very pleased to partner with the teams of Once and iLox to combine our innovations to capture growth,” said Bill Bien, Business Leader Agriculture at Signify. “This next step in the development of our Agriculture Business addresses the global need for feeding the world’s growing population, further unlocking the potential of light for brighter lives and a better world.”
“We are excited to become part of Signify. The potential market is young and growing and we look forward to working together to further improve animal welfare and farmers’ production,” said Zdenko Grajcar, CEO and Founder of ONCE.
Once Inc. was founded in 2009 and signed an agreement to acquire Germany-based iLOX in 2018, adding sales and service capabilities outside the US.
The transactions are expected to close in the second quarter of 2019. No financial details about the transaction were disclosed.
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. With 2018 sales of EUR 6.4 billion, we have approximately 29,000 employees and are present in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We have been named Industry Leader in the Dow Jones Sustainability Index for two years in a row. News from Signify is located at the Newsroom, Twitter and LinkedIn. Information for investors can be found on the Investor Relations page.
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