Signify to acquire 51% stake in Klite Lighting

Signify to acquire 51% stake in Klite Lighting

By eeNews Europe

Signify announces today it has agreed to acquire a 51% stake in Zhejiang Klite Lighting Holdings Co., Ltd. This Zhejiang, China-based company is one of the main roviders of high-quality, cost-efficient LED lamps and luminaires. The transaction will bring additional scale and innovation power to Klite Lighting, allowing it to generate further cost efficiencies and enhance its product development, including connected lighting offerings. This will strengthen Klite Lighting’s position to serve branded and private label customers with innovative and cost-efficient products.

Klite Lighting has been one of Signify’s main suppliers of high-quality and very cost-efficient LED lamps and luminaires for many years. In addition, the company manufactures a wide range of LED lamps and luminaires for a large, global customer base.

Signify leads in LED lighting innovation (Philips Hue) and is at the forefront of the industry’s expansion into systems and services. In ‘connected lighting’, Signify regards itself as the lighting company for the Internet of Things. As of end Q2 2019, the claim to have installed more than 50 million connected light points.

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