Signify, the world leader in lighting, announced that it has entered into a definitive agreement with ams OSRAM (SIX: AMS) to acquire Austin, Texas-based Fluence for USD 272 million (EUR 242 million) on a cash and debt-free basis. This acquisition will strengthen our global Agriculture lighting growth platform and extend our position in the attractive North American horticultural lighting market.
The acquisition is fully in line with our strategy to expand in attractive growth segments and our commitment to improving food availability by providing growers with horticultural lighting that helps them to reduce resource consumption and increase yields. We expect the global market for agricultural lighting to grow by more than 20% per year to EUR 1.6 billion in 2024.
Division Leader Digital Solutions at Signify