The transaction is expected to close within the second quarter (Q2) of 2019. The 53 employees of WiZ, which is headquartered in Hong Kong, China, will continue to sell lamps and luminaires around the world under the existing brand.
“We are very pleased to join forces with the teams at WiZ, who have developed a great technology platform,” says Eric Rondolat, Signify’s CEO. “It perfectly complements Signify’s existing offers and will enable us to address a larger customer base in the growing market for Wi-Fi-based lighting.”
“We are pleased to become part of Signify, the world leader in lighting,’ says WiZ CEO Jean-Eudes Leroy. “Together, we will reach a large audience of unaddressed customers with an easy-to-use, scalable solution.”