Signify, who are the company behind Philips Hue have announced the acquisition of smart lighting competitor WiZ Connected, which is a wifi based lighting eco system.

Jean-Eudes LEROY, CEO of WiZ Connected said “We are pleased to be part of Signify, the world leader in lighting. WiZ is an open IoT platform, accessible to all lighting and electrical vendors, providing the benefits of connected devices to all end-users. Together with Signify, we will reach a large audience of unaddressed customers with our easy-to-use, scalable solution.”

In the Signify press release it read – “We are very pleased to join forces with the teams of WiZ Connected who have developed a great technology platform enabling to address a larger customer base in the growing market of Wi-Fi-based lighting. It perfectly complements Signify’s existing offers and will help us to continue to deliver an experience rich in light and intuitive in use for our customers,” said Eric Rondolat, CEO of Signify.

WiZ Connected is headquartered in Hong Kong. Its 53 staff members will continue to sell Wi-Fi-based connected lamps and luminaires across the world under its own brand name.

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