Signify N.V.,formerly known asPhilips Lighting N.V.,is a Dutch multinationallightingcorporation formed in 2016 as a result of thespin-offof the lighting division ofPhilips,by means of anIPO.[2]The company manufactureselectric lights,light fixturesand control systems for consumers, professionals and theIoT.In 2018, Philips Lighting changed its name to Signify. The company still produces lights under the Philips brand.
 | |
| Formerly | Philips Lighting N.V. (2016–2018) |
|---|---|
| Company type | Naamloze vennootschap |
| |
| Industry | Lighting |
| Predecessor | Philips' lighting division |
| Founded | 3 May 2016 |
| Headquarters | Eindhoven,Netherlands |
Area served | Worldwide |
Key people |
|
| Products | |
| Revenue |  €6.70 billion (2023)[1] |
| €0.37 billion (2023)[1] | |
| €0.22 billion (2023)[1] | |
| Total assets | €8.00 billion (2023)[1] |
| Total equity | €2.82 billion (2023)[1] |
Number of employees | 33,090 (2023)[1] |
| Subsidiaries | Cooper Lighting,Fluence, Telensa, Pierlite, Zhejiang Klite Lighting, Once and iLox, WiZ Connected, Shenzhen LiteMagic Technologies,Vari-Lite |
| Website | signify |
History
editThe Lighting division was part of the first activities ofPhilips,that started in 1891 with anincandescent lampfactory inEindhoven,the Netherlands.
In September 2014,Philipsannounced that the company intended to split the company into two market-leading entities, one focused on health and medical technology and the other on connected LED lighting.[3]
On 3 May 2016, Philips announced the formation of the separated company called Philips Lighting N.V.. Philips stated that the main reason for the demerger was that the medical technology business accounted for more than 40% of sales, while its lighting arm remained a major money-spinner, selling products in 180 countries.[4]The separated entity had aninitial public offeringon 27 May 2016, valued at US$3.4 billion; 25% of the shares were offered. The company listed onEuronext Amsterdamunder ticker code "LIGHT".[5]
In March 2018, Philips Lighting announced that the company would change its name to Signify, which became effective on 16 May 2018. However, Signify continued to produce some of its lighting products under the Philips brand.[6][7]
On 16 April 2019, Signify acquired theHong Kong–based Wi-Fi connected lighting provider, WiZ Connected, for an undisclosed amount.[8]
On 2 March 2020,Eatonsold its lighting business, Cooper Lighting Solutions, to Signify for $1.4 billion.[9]
In July 2021, Signify acquired the UK-based company Telensa,[10]a smart street lighting controls company.
On 20 December 2021, Signify announced it has entered a final agreement withAMS Osramto acquire horticulture lighting company Fluence for $272 million, and the deal was completed in May 2022.[11]
Products
editSignify manufactures lighting-related products, mainly under the Philips brand (used under license), but also asPhilips Hue,Color Kinetics and WiZ, among others. Signify's portfolio consists ofelectric lightsand theIoTplatform and connected lighting systems aimed at consumers and professionals.[citation needed]
References
edit- ^abcdef"Annual report"(PDF).Signify.Retrieved29 February2024.
- ^Bray, Chad (26 May 2016)."Philips Lighting Valued at $3.3 Billion in I.P.O."The New York Times.ISSN0362-4331.Retrieved26 September2022.
- ^Enriquez, Jof (25 September 2014)."Philips To Spin Off Lighting, Focus On Healthcare".Med Device Online.Retrieved26 January2021.
- ^"Philips to Spin off Lighting Branch in 'Historic' IPO".IndustryWeek.3 May 2016.Retrieved26 January2021.
- ^Tompkins, Jules (27 May 2016)."Philips Lighting spun off in IPO, now world's largest lighting company".Regency Lights.Retrieved26 January2021.
- ^Halper, Mark (15 May 2018)."Philips Lighting's identity fades into Signify tomorrow".LEDs Magazine.Retrieved26 January2021.
- ^"Philips Lighting is now Signify".Signify Press Releases.16 May 2018.Retrieved26 January2021.
- ^"Signify acquires WiZ Connected to further expand its leadership in connected lighting".Signify Press Releases.16 April 2019.Retrieved26 January2021.
- ^"Eaton Completes the Sale of its Lighting Business".
- ^"Telensa goes Dutch as Signify sees the light | Business Weekly | Technology News | Business news | Cambridge and the East of England".www.businessweekly.co.uk.Retrieved26 September2022.
- ^"Acquiring Fluence to strengthen Agriculture operations | Signify Company Website".Signify.Retrieved26 September2022.