Signify to Acquire Fluence for $272 Million

By Michael Susin

Signify NV said Monday that it has entered into a definitive agreement with ams Osram to buy the North American company Fluence for $272 million on a cash free, debt free basis.

The Dutch lighting company said the acquisition will strengthen its presence in the North American horticultural lighting market and will add complementary technologies to its operations, including light recipes for the legal growing of cannabis.

Fluence is a Texas-based company that has more than 140 issued and pending patents, focusing on areas such as light quality, thermal management and installation methods, Signify said. Fluence's revenue from October 2020 to September 2021 was $141 million, Signify said.

The deal is expected to be completed in the first half of 2022, the company said.

Write to Michael Susin at michael.susin@wsj.com

(END) Dow Jones Newswires

December 20, 2021 02:51 ET (07:51 GMT)

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