Signify N.V.

Last updated

Signify N.V.
FormerlyPhilips Lighting N.V. (2016–2018)
Company type Naamloze vennootschap
Industry Lighting
Predecessor Philips' lighting division
Founded3 May 2016;7 years ago (2016-05-03)
Headquarters Eindhoven, Netherlands
Area served
Worldwide
Key people
  • Eric Rondolat (Chairman, CEO)
  • Javier van Engelen (CFO)
Products
RevenueDecrease2.svg 6.70 billion (2023) [1]
Decrease2.svg 0.37 billion (2023) [1]
Decrease2.svg 0.22 billion (2023) [1]
Total assets Decrease2.svg 8.00 billion (2023) [1]
Total equity Decrease2.svg 2.82 billion (2023) [1]
Number of employees
33,090 (2023) [1]
Subsidiaries Cooper Lighting, Fluence, Telensa, Pierlite, Zhejiang Klite Lighting, Once and iLox, WiZ Connected, Shenzhen LiteMagic Technologies, Vari-Lite
Website www.signify.com

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 of the lighting division of Philips, by means of an IPO. [2] The company manufactures electric lights, light fixtures 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.

Contents

History

The Lighting division was part of the first activities of Philips, that started in 1891 with an incandescent lamp factory in Eindhoven, the Netherlands.

In September 2014, Philips 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. [3]

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. [4] The separated entity had an initial public offering on 27 May 2016, valued at US$3.4 billion; 25% of the shares were offered. The company listed on Euronext Amsterdam under ticker code "LIGHT". [5]

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. [6] [7]

On 16 April 2019, Signify acquired the Hong Kong-based Wi-Fi connected lighting provider, WiZ Connected, for an undisclosed amount. [8]

On 2 March 2020, Eaton sold its lighting business, Cooper Lighting Solutions, to Signify for $1.4 billion. [9]

In July 2021, Signify acquired the UK based company Telensa, [10] 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. [11]

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 electric lights and the IoT platform and connected lighting systems aimed at consumers and professionals.[ citation needed ]

Related Research Articles

<span class="mw-page-title-main">Philips</span> Dutch multinational conglomerate corporation

Koninklijke Philips N.V., commonly shortened to Philips, is a Dutch multinational conglomerate corporation that was founded in Eindhoven in 1891. Since 1997, its world headquarters have been situated in Amsterdam, though the Benelux headquarters is still in Eindhoven. Philips was formerly one of the largest electronics companies in the world, but is currently focused on the area of health technology, having divested its other divisions.

<span class="mw-page-title-main">ING Group</span> Dutch multinational banking and financial services corporation

The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion, it is one of the biggest banks in the world, and consistently ranks among the largest banks globally.

<span class="mw-page-title-main">Cooper Industries</span> American worldwide electrical products manufacturer

Cooper Industries was an American worldwide electrical products manufacturer headquartered in Houston, Texas. Founded in 1833, the company had seven operating divisions including Bussmann electrical and electronic fuses; Crouse-Hinds and CEAG explosion-proof electrical equipment; Halo and Metalux lighting fixtures; and Kyle and McGraw-Edison power systems products.

<span class="mw-page-title-main">Cypress Semiconductor</span> Defunct American semiconductor company

Cypress Semiconductor was an American semiconductor design and manufacturing company. It offered NOR flash memories, F-RAM and SRAM Traveo microcontrollers, PSoC programmable system-on-chip solutions, analog and PMIC Power Management ICs, CapSense capacitive touch-sensing controllers, Wireless BLE Bluetooth Low-Energy and USB connectivity solutions.

Nielsen Holdings plc is an American information, data and market measurement firm. Nielsen operates in over 100 countries and employs approximately 44,000 people worldwide.

<span class="mw-page-title-main">Altice USA</span> American telecommunications and media company; spin-off of Altice Europe

Altice USA, Inc., commonly known as Altice, is an American cable television provider with headquarters in New York City, owned by the Franco-Israeli businessman Patrick Drahi. It delivers pay television, Internet access, telephone services, and original television content to approximately 4.9 million residential and business customers in 21 states.

Memorex Corp. began as a computer tape producer and expanded to become both a consumer media supplier and a major IBM plug compatible peripheral supplier. It was broken up and ceased to exist after 1996 other than as a consumer electronics brand specializing in disk recordable media for CD and DVD drives, flash memory, computer accessories and other electronics.

Strand Lighting is an international theatre and television lighting company founded in 1914 in London's West End that supplies lighting fixtures and controls for the entertainment industry. Strand's products have been used on countless theatre productions and TV shows worldwide.

Designer Brands Inc. is an American company that sells designer and name brand shoes and fashion accessories. It owns the Designer Shoe Warehouse (DSW) store chain, and operates over 500 stores in the United States and an e-commerce website.

<span class="mw-page-title-main">NXP Semiconductors</span> Dutch semiconductor manufacturer

NXP Semiconductors N.V. (NXP) is a Dutch semiconductor designer and manufacturer with headquarters in Eindhoven, Netherlands. The company employs approximately 31,000 people in more than 30 countries. NXP reported revenue of $11.06 billion in 2021.

<span class="mw-page-title-main">Broadcom</span> American semiconductor company

Broadcom Inc. is an American multinational designer, developer, manufacturer, and global supplier of a wide range of semiconductor and infrastructure software products. Broadcom's product offerings serve the data center, networking, software, broadband, wireless, storage, and industrial markets. As of 2023, some 79 percent of Broadcom's revenue was coming from its semiconductor-based products and 21 percent from its infrastructure software products and services.

<span class="mw-page-title-main">GE Appliances</span> Brand of appliance, owned by Haier and KKR

GE Appliances is an American home appliance manufacturer based in Louisville, Kentucky. It has been majority owned by Chinese multinational home appliances company Haier since 2016. It is one of the largest appliance companies in the United States and manufactures appliances under several brands, including GE, GE Profile, Café, Monogram, Haier and Hotpoint. The company also owns FirstBuild, a co-creation community and micro-factory on the University of Louisville's campus in Louisville, Kentucky. Another FirstBuild location is in South Korea, and a FirstBuild location in India opened its doors in 2019.

<span class="mw-page-title-main">Acuity Brands</span> Industrial company

Acuity Brands, Inc. is a lighting and building management firm headquartered in Atlanta, Georgia, with operations throughout North America and in Europe and Asia. As of 2018 the company has approximately 13,000 employees and recorded net sales of $3.7 billion for the fiscal year. In terms of market share, Acuity Brands is the largest lighting manufacturer in North America.

<span class="mw-page-title-main">Accel (company)</span> Venture capital firm

Accel, formerly known as Accel Partners, is an American venture capital firm. Accel works with startups in seed, early and growth-stage investments. The company has offices in Palo Alto, California and San Francisco, California, with additional operating funds in London, India and China.

<span class="mw-page-title-main">Arm Holdings</span> British multinational semiconductor and software design company

Arm Holdings plc is a British semiconductor and software design company based in Cambridge, England, whose primary business is the design of central processing unit (CPU) cores that implement the ARM architecture family of instruction sets. It also designs other chips, provides software development tools under the DS-5, RealView and Keil brands, and provides systems and platforms, system-on-a-chip (SoC) infrastructure and software. As a "holding" company, it also holds shares of other companies. Since 2016, it has been majority owned by Japanese conglomerate SoftBank Group.

<span class="mw-page-title-main">Intertrust Group</span> Dutch corporate management service company

Intertrust is an international trust and corporate management company based in Amsterdam, Netherlands. In November 2022, it was acquired by Corporation Service Company. The company is best known for its fiduciary services, which includes tax, trust, business management and outsourcing processes. It is the largest trust office in the Netherlands.

<span class="mw-page-title-main">Dialog Semiconductor</span> Anglo-German semiconductor company

Dialog Semiconductor Plc is an Anglo-German semiconductor-based system designer and manufacturer. The company is headquartered in the United Kingdom in Reading, with a global sales, R&D and marketing organization. Dialog creates highly integrated application-specific standard product (ASSP) and application-specific integrated circuit (ASIC) mixed-signal integrated circuits (ICs), optimised for smartphones, computing, Internet of Things devices, LED solid-state lighting (SSL), and smart home applications.

<span class="mw-page-title-main">JDE Peet's</span> Dutch beverage company

JDE Peet's N.V. is an American-Dutch company that owns beverage brands, mostly of coffee, tea and hot chocolate. It was formed in 2015 following the merger of the coffee division of Mondelez International with Douwe Egberts as Jacobs Douwe Egberts. The stock of JDE Peet's is listed on the Euronext Amsterdam stock exchange.

<span class="mw-page-title-main">Altice (company)</span> French multinational telecommunications company

Altice Europe N.V. is a French multinational telecommunications and mass media company with official headquarters in the Netherlands, founded and headed by the French-Israeli billionaire businessman Patrick Drahi, and the second largest telecoms company in France, behind Orange.

<span class="mw-page-title-main">Philips Hue</span> Smart lightbulb brand

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 N.V., formerly the Philips Lighting division of Royal Philips N.V.

References

  1. 1 2 3 4 5 6 "Annual report" (PDF). Signify. Retrieved 29 February 2024.
  2. Bray, Chad (26 May 2016). "Philips Lighting Valued at $3.3 Billion in I.P.O." The New York Times. ISSN   0362-4331 . Retrieved 26 September 2022.
  3. Enriquez, Jof (25 September 2014). "Philips To Spin Off Lighting, Focus On Healthcare". Med Device Online. Retrieved 26 January 2021.
  4. "Philips to Spin off Lighting Branch in 'Historic' IPO". IndustryWeek . 3 May 2016. Retrieved 26 January 2021.
  5. Tompkins, Jules (27 May 2016). "Philips Lighting spun off in IPO, now world's largest lighting company". Regency Lights. Retrieved 26 January 2021.
  6. Halper, Mark (15 May 2018). "Philips Lighting's identity fades into Signify tomorrow". LEDs Magazine. Retrieved 26 January 2021.
  7. "Philips Lighting is now Signify". Signify Press Releases. 16 May 2018. Retrieved 26 January 2021.
  8. "Signify acquires WiZ Connected to further expand its leadership in connected lighting". Signify Press Releases. 16 April 2019. Retrieved 26 January 2021.
  9. "Eaton Completes the Sale of its Lighting Business".
  10. "Telensa goes Dutch as Signify sees the light | Business Weekly | Technology News | Business news | Cambridge and the East of England". www.businessweekly.co.uk. Retrieved 26 September 2022.
  11. "Acquiring Fluence to strengthen Agriculture operations | Signify Company Website". Signify. Retrieved 26 September 2022.