Signify Acquires Two Agricultural Lighting Companies
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" stated Bill Bien, Business Leader Agriculture, 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 transactions were disclosed.