Signify is in talks to acquire WiZ Connected, a small company specializing in Wi-Fi for wireless lighting control technology. The addition of WiZ will enable Signify to extend its leadership by stepping into the Wi-Fi-based smart lighting market.
Signify has declined to disclose the financial details of the acquisition, as per now.
“We are very pleased to join forces with the teams of WiZ Connected who have developed a great technology platform enabling [us] to address a larger customer base in the growing market of Wi-Fi-based lighting,” said Signify CEO Eric Rondolat. “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.”
WiZ Connected is headquartered in Hong Kong. Its 53 staff members will continue to sell Wi-Fi–based lighting controls for the consumer, professional, and OEM markets. The company’s products also includes hardware, software, and cloud connections for Internet of Things (IoT) schemes.
The transaction is expected to close in the second quarter of 2019.
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