Signify N.V., formerly known as Philips Lighting N.V., is a Dutch multinational

lighting Lighting or illumination is the deliberate use of light to achieve practical or aesthetic effects. Lighting includes the use of both artificial light sources like lamps and light fixtures, as well as natural illumination by capturing daylight. ...

corporation formed in 2016 as a result of the

spin-off Spin-off, Spin Off, Spin-Off, or Spinoff may refer to: Entertainment and media *Spinoff (media), a media work derived from an existing work *''The Spinoff'', a New Zealand current affairs magazine * ''Spin Off'' (Canadian game show), a 2013 Canad ...

of the lighting division of

Philips Koninklijke Philips N.V. (), simply branded Philips, is a Dutch multinational health technology company that was founded in Eindhoven in 1891. Since 1997, its world headquarters have been situated in Amsterdam, though the Benelux headquarter ...

, by means of an

IPO An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...

. The company manufactures

electric light Electric light is an artificial light source powered by electricity. Electric Light may also refer to: * Light fixture, a decorative enclosure for an electric light source * Electric Light (album), ''Electric Light'' (album), a 2018 album by James ...

light fixture A light fixture (US English), light fitting (UK English), or luminaire is an electrical lighting device containing one or more light sources, such as lamps, and all the accessory components required for its operation to provide illumination to ...

s and control systems for consumers, professionals and the IoT. 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

, that started in 1891 with an

incandescent lamp An incandescent light bulb, also known as an incandescent lamp or incandescent light globe, is an electric light that produces illumination by Joule heating a filament until it glows. The filament is enclosed in a glass bulb that is eith ...

factory in

Eindhoven Eindhoven ( ; ) is a city and List of municipalities of the Netherlands, municipality of the Netherlands, located in the southern Provinces of the Netherlands, province of North Brabant, of which it is the largest municipality, and is also locat ...

, the Netherlands. In September 2014,

announced that the company intended to split the company into two market-leading entities, one focused on health and medical technology and the other on connected LED lighting. 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 arm remained a major money-spinner, selling products in 180 countries. The separated entity had an

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

on 27 May 2016, valued at US$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 re ...

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 Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

–based Wi-Fi connected lighting provider, WiZ Connected, for an undisclosed amount. On 2 March 2020, Eaton sold its lighting business, Cooper Lighting Solutions, to Signify for $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 to acquire horticulture lighting company Fluence for $272 million, and the deal was completed in May 2022.

Products

Signify manufactures lighting-related products, mainly under the Philips brand (used under license), but also as Philips Hue, Color Kinetics and WiZ, among others. Signify's portfolio consists of

s and the IoT platform and connected lighting systems aimed at consumers and professionals.

References

External links

* {{Authority control 2016 initial public offerings Companies listed on Euronext Amsterdam Companies in the AEX index Companies based in Eindhoven Electronics companies of the Netherlands Dutch companies established in 2016 Technology companies established in 2016 Electronics companies established in 2016 Light-emitting diodes Multinational companies headquartered in the Netherlands Philips Corporate spin-offs Internet of things companies Dutch brands