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Signify completes the acquisition of LiteMagic Technologies

2021/03/01 browse: 82

"LiteMagic will complement Philips CK (Color Kinetics) to provide customers with different levels and diversified product choices." Said John Wang, Signify’s Global Senior Vice President and President of Greater China. With the acceleration of China’s economic development and urbanization, the urban landscape lighting market will usher in great opportunities in the next few years. With Signify’s global service network and comprehensive product portfolio, we can quickly respond to customer’s requirements and provide the most suitable products, systems and services."

 As an outstanding manufacturer of lighting products and control systems for urban landscape and building facades in China, LiteMagic Technologies has a broad and competitive product portfolio and has mature market experience in the field of outdoor lighting in China.

 

▲LiteMagic Technologies - Hangzhou G20 Summit Lighting Project on the South Side of Qiantang River

 

▲LiteMagic Technologies -Guangzhou Haizhu Bridge

 

▲LiteMagic Technologies -Kunming Wanda Xishan Plaza

 

After the completion of the acquisition, Signify's strong technological strength and strict manufacturing standards will effectively enhance LiteMagic Technologies. Signify will also accelerate the improvement of layout in the field of urban lighting, and bring more comprehensive products, systems, and services to the Chinese and Asia-Pacific markets.

Signify has always attached great importance to the Chinese market. Since entering China for nearly a century, it has continuously increased its investment in the Chinese market and used practical actions to fulfill its commitments to China.

Through this acquisition of LiteMagic Technologies, the company has accelerated the improvement of its mid-end market layout while maintaining its advantages in the high-end market, demonstrating its determination to deepen the urban landscape lighting market. Relying on high-quality products and services, Signify will create beautiful night scenes and city cards for more Chinese cities.

Background Information

On May 16, 2018, Philips Lighting NV officially changed its name to Signify NV, continuing to use Philips as its product brand. After the completion of the acquisition, LiteMagic’s outdoor business will be operated by Signify's the newly established wholly owned company called Shenzhen Leifei Lighting Technologies Co., Ltd. The new company will continue to use LiteMagic as its product brand.

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