Signify N.V., formerly known as Philips Lighting N.V., is a Dutch multinational lighting corporation formed in 2016 as a result of the
spin-off
Spin-off may refer to:
*Spin-off (media), a media work derived from an existing work
*Corporate spin-off, a type of corporate action that forms a new company or entity
* Government spin-off, civilian goods which are the result of military or gove ...
of the lighting division of Philips, by means of an I.P.O. The company manufactures
electric light
An electric light, lamp, or light bulb is an electrical component that produces light. It is the most common form of artificial lighting. Lamps usually have a base made of ceramic, metal, glass, or plastic, which secures the lamp in the soc ...
s, light fixtures and control systems for consumers, professionals and the
IoT
The Internet of things (IoT) describes physical objects (or groups of such objects) with sensors, processing ability, software and other technologies that connect and exchange data with other devices and systems over the Internet or other com ...
. In 2018, Philips Lighting changed its name to Signify. The company still produces lights under the Philips brand.
History
The Lighting division was part of the first activities of Philips, that started in 1891 with an
incandescent lamp
An incandescent light bulb, incandescent lamp or incandescent light globe is an electric light with a wire filament heated until it glows. The filament is enclosed in a glass bulb with a vacuum or inert gas to protect the filament from oxid ...
factory in
Eindhoven
Eindhoven () is a city and municipality in the Netherlands, located in the southern province of North Brabant of which it is its largest. With a population of 238,326 on 1 January 2022,Philips announced that the company intended to demerge the company into two market-leading entities, one focused on health and medical technology and the other on connected LED lighting solutions.
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 solutions arm remained a major money-spinner, selling products in 180 countries. The separated entity had an initial public offering on 27 May 2016, valued at $3.4 billion; 25% of the shares were offered. The company listed on
Euronext Amsterdam
Euronext Amsterdam is a stock exchange based in Amsterdam, the Netherlands. Formerly known as the Amsterdam Stock Exchange, it merged on 22 September 2000 with the Brussels Stock Exchange and the Paris Stock Exchange to form Euronext. The reg ...
under ticker code "LIGHT".
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.
On 16 April 2019, Signify acquired the Hong Kong-based Wi-Fi connected lighting solutions provider, WiZ Connected, for an undisclosed amount.
On 2 March 2020,
Eaton
Eaton may refer to:
Buildings Canada
* Eaton Centre, the name of various shopping malls in Canada due to having been anchored by an Eaton's store
* Eaton's / John Maryon Tower, a cancelled skyscraper in Toronto
* Eaton Hall (King City), a confere ...
sold its lighting business, Cooper Lighting Solutions, to Signify for USD 1.4 billion.
In July 2021, Signify acquired the UK based company Telensa, a smart street lighting controls company.
On 20 December 2021, Signify announced it has entered a final agreement with ams
Osram
Osram Licht AG is a German company that makes electric lights, headquartered in Munich and Premstätten (Austria). Osram positions itself as a high-tech photonics company that is increasingly focusing on sensor technology, visualization and tre ...
to acquire horticulture lighting company Fluence for USD 272 million, the deal was completed in May 2022
Products
Signify manufactures lighting-related products, mainly under the Philips brand (used under license), but also a Interact
Philips Hue
Philips Hue is a line of color-changing LED lamps and white bulbs which can be controlled wirelessly. The Philips Hue line of bulbs was the first smart bulb of its kind on the market. The lamps are currently created and manufactured by Signify ...
, Color Kinetics and WiZ, among others. Signify's portfolio consists of
electric light
An electric light, lamp, or light bulb is an electrical component that produces light. It is the most common form of artificial lighting. Lamps usually have a base made of ceramic, metal, glass, or plastic, which secures the lamp in the soc ...
s and the
IoT
The Internet of things (IoT) describes physical objects (or groups of such objects) with sensors, processing ability, software and other technologies that connect and exchange data with other devices and systems over the Internet or other com ...
platform and connected lighting systems aimed at consumers and professionals.