May 2, 2022
$272M Deal Closed: Fluence is Now a Part of Signify
ams OSRAM completes the deal to sell horticultural lighting leader Fluence to formal rival
The most valuable asset in ams OSRAM's remaining lighting portfolio is now officially part of Signify.
The European rivals that once comprised two of the "Big 3" lamp companies announced the deal in December 2021. ams OSRAM agreed to sell horticultural lighting company, Fluence, to Signify for $272 million and the deal is now closed.
1-year revenues for Fluence through September 30, 2021 were $141 million.
Fluence will operate as an entity within Signify’s agricultural lighting business in the Digital Solutions Division
Below is the announcement from Signify
Signify successfully completes acquisition of Fluence, strengthening its Agriculture lighting growth platform
Eindhoven, the Netherlands – Signify (Euronext: LIGHT), the world leader in lighting, has completed the acquisition of Fluence from ams OSRAM (SIX:AMS). The transaction strengthens our global Agriculture lighting growth platform and extends our position in the attractive North American horticultural lighting market.
“We’re excited to welcome the team from Fluence and to start working together to drive horticultural lighting innovation and create value for growers around the globe,” said Harsh Chitale, Division Leader Digital Solutions at Signify.
David Cohen, CEO of Fluence, said: “We are thrilled to officially become part of the world leader in lighting. Together, our businesses will be able to deliver the world’s most advanced horticulture technology to cultivators on a global scale.”
Fluence will operate with a separate go-to-market as an integrated business unit within Signify’s agricultural lighting business in the Digital Solutions Division.
The acquisition is fully in line with Signify's strategy to expand in attractive growth segments and our commitment to improving food availability by providing growers with horticultural lighting that helps them to reduce resource consumption and increase yields.