Signify Acquires Once Inc. and iLox to Capture Growth in Agricultural Lighting
May 29, 2019
Signify is expanding its business for agricultural lighting through the acquisition of Once Inc., based in Plymouth, Minnesota, and iLox, based in Vechta, Germany. Once and iLox are market leaders in the design and manufacturing of animal-centric lighting. These tailor-made lighting systems improve the quality of life for livestock, which leads to healthier and enhanced production for the farmer.
“With this acquisition, we add know-how, technology and expertise in animal lighting that complements ours in horticulture lighting,” says Bien, Business Leader Agriculture at Signify. “We are very pleased to partner with the teams of Once and iLox to combine our innovations to capture growth. This next step in the development of our Agriculture Business addresses the global need for feeding the world’s growing population, further unlocking the potential of light for brighter lives and a better world.”
Once Inc. was founded in 2009 and signed an agreement to acquire Germany-based iLox in 2018, adding sales and service capabilities outside the U.S. The transactions are expected to close in the second quarter of 2019. No financial details about the transactions have been disclosed.
