Signify, a global lighting leader, today announced that it has agreed to acquire WiZConnected, a developer of the WiZ smart connected lighting ecosystem based on Wi-Fi technology. Through the acquisition of WiZ, Signify will open up the Wi-Fi smart lighting market and further consolidate its leading position in smart lighting.

"We are very happy to work with the WiZ Connected team. They have developed an excellent technology platform for the growing Wi-Fi smart lighting market to serve a wider customer base. This will be the perfect complement to Signify’s existing product portfolio and help We continue to provide customers with a rich lighting experience and intuitive use experience," said Eric Rondolat, Global CEO of Signify.

"We are very pleased to join Signify, a global lighting leader. WiZ is an open IoT lighting platform for all lighting manufacturers to help users realize the advantages of smart and connected lighting," said Jean-Eudes Leroy, CEO of WiZConnected. "Joining hands with Signify, we will be able to bring the advantages of smart connected lighting to a wider user group, and extend our easy-to-use and easy-to-scale solutions to untapped market areas."

WiZ Connected is headquartered in Hong Kong and has 53 employees. They will continue to use their own brands to sell smart connected light sources and lamps based on Wi-Fi technology worldwide.

The transaction is expected to be completed in the second quarter of 2019. Financial data will not be disclosed.