Signify to Acquire Fluence
On Dec. 20, Signify, a leader in lighting, today announced that it has entered into a definitive agreement with ams OSRAM to acquire Austin, Texas-based Fluence for $272 million. This acquisition is expected to strengthen the company’s global agriculture lighting growth platform and extend its position in the North American horticultural lighting market.
The acquisition is fully in line with Signify’s strategy to expand in growth segments and its commitment to improving food availability by providing growers with horticultural lighting that helps them to reduce resource consumption and increase yields.
The acquisition will add Fluence’s complementary horticultural lighting technology to Signify’s existing knowledge and expertise including light recipes for growing of cannabis
Fluence’s technology also includes more than 140 issued and pending patents, focusing on areas such as light quality, thermal management and installation methods.
“We’re excited to announce that we’re acquiring Fluence, strengthening our agricultural lighting business, one of our main growth platforms. It also further underlines the strategic importance of the North American market to our business,” said Harsh Chitale, Division Leader Digital Solutions at Signify. “We’re looking forward to welcoming the team from Fluence. Its lighting innovations and solid go-to-market strategy have helped build a recognized brand with a strong position in North America and a fast-growing business in Europe.”
“Since Fluence’s founding, it has been our sole mission to improve the interaction between light and life to yield a healthier and more sustainable world. Adding our lighting solutions to Signify’s strong portfolio empowers our combined businesses to deliver the world’s most advanced horticulture technology to cultivators on a global scale,” said David Cohen, CEO of Fluence. “The combination of our companies will immediately expand our collective footprints and inject valuable expertise into both companies’ product innovations. We look forward to uniting with the Signify team.”
The acquisition is expected to close in the first half of 2022, subject to regulatory approvals and other conditions.