Signify has agreed to acquire WiZ Connected, developers of the WiZ Wi-Fi-based connected lighting ecosystem. The addition of WiZ enables Signify to extend its leadership by stepping into the Wi-Fi-based smart lighting market.
WiZ Connected is headquartered in Hong Kong. Its 53 staff members will continue to sell Wi-Fi-based connected lamps and luminaires across the world under its own brand name.
The transaction is expected to close in the second quarter of 2019. Financial data will not be disclosed.