Signify acquires U.S. wired control systems manufacturer Intelligent Lighting Controls, expanding connected portfolio
EINDHOVEN, Netherlands, March 1, 2023 /PRNewswire/ -- Signify (Euronext: LIGHT), the world leader in lighting, today announced the acquisition of Intelligent Lighting Controls, Inc. (ILC), a market-leading U.S. manufacturer of wired control systems, expanding its connected portfolio.
Intelligent Lighting Controls' sales are primarily focused on energy-saving control systems in applications such as healthcare, education, offices, and sporting venues. ILC, which was founded in 1990, will continue to be headquartered and maintain its manufacturing in Edina, Minnesota.
Going forward, ILC will sell its brand of wired control systems as part of Cooper Lighting Solutions, a business unit of Signify's Digital Solutions division. ILC's wired control systems expand the Cooper Lighting Solutions portfolio of energy-saving solutions, providing enhanced opportunities to sell a broad range of energy efficient LED lighting products in the U.S., Canada and Mexico.
"We are delighted to welcome Intelligent Lighting Controls to the Signify family. With ILC's talented team and proven track record, we are adding a well-established technology and competitive offering to fuel the uptake of energy-saving solutions in the attractive North American market," said Kraig Kasler, President of Cooper Lighting Solutions.
The financial terms of the transaction were not disclosed.
For further information, please contact:
Cooper Lighting Solutions Communications
Karin Lehn
Tel: +1 919 451 7760
E-mail: karin.lehn@cooperlighting.com
Signify Corporate Communications
Abigail Levene
Tel: +31 6 2939 3895
E-mail: abigail.levene@signify.com
About Signify
Signify (Euronext: LIGHT) is the world leader in lighting for professionals and consumers and lighting for the Internet of Things. Our Philips products, Interact connected lighting systems and data-enabled services, deliver business value and transform life in homes, buildings and public spaces. In 2022, we had sales of EUR 7.5 billion, approximately 35,000 employees and a presence in over 70 countries. We unlock the extraordinary potential of light for brighter lives and a better world. We achieved carbon neutrality in our operations in 2020, have been in the Dow Jones Sustainability World Index since our IPO for six consecutive years and were named Industry Leader in 2017, 2018 and 2019. News from Signify is located at the Newsroom, Twitter, LinkedIn and Instagram. Information for investors can be found on the Investor Relations page.
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SOURCE Signify
