Tridonic sells Signage Business to AgiLight
Tridonic GmbH & Co KG, part of the Austrian lighting company Zumtobel Group, has sold its LED signage business to U.S.A.-based AgiLight Inc.. With the acquisition of Tridonic’s signage activities, AgiLight, a subsidiary of General LED Inc. headquartered in San Antonio, Texas, becomes one of the largest LED system suppliers to the global signage market.
AgiLight’s core markets in the U.S.A., Latin America and the Middle East are complemented with Tridonic’s strong position in Europe, Asia and Australia. For Tridonic, the move marks another milestone in the systematic focusing of its business on innovative LED components and systems for general lighting. The sale of the signage business takes the form of an asset deal. Both parties agreed to maintain confidentiality over the sale price.
“We are delighted to have found an ideal partner in AgiLight who can draw upon great expertise in taking forward our signage activities. Since 2001 we have successfully grown this business to annual revenues of almost EUR 20 million, as commercial signage was one of the first professional applications for LED lighting. Given the specific sales approach and – in part – varied customer base, the time is now right for us to hand over this business to a company that is entirely dedicated to the global signage market. Tridonic will be applying its experience and expertise to facilitate the transition process and ensure a smooth handover for our customers. Our focus is firmly on general lighting for which we develop smart and connected LED components and systems,” said Tridonic CEO Alfred Felder.
“We are very excited about the acquisition of the Tridonic Signage business,” said Steven Moya, President and CEO of AgiLight, Inc., “The acquisition is fully in line with our global development strategy. This business will allow AgiLight to enhance its global position as the preferred LED partner of sign companies and will enable us to offer a strong portfolio of LED solutions to our global customers and accelerate the pace of innovation and new technology development. Our mission is to bring value to our customers while enabling them to achieve greater growth and competitiveness.”
In order to maintain momentum in the market and to give a clear sign of continuity towards the customers, AgiLight will offer the current dedicated Tridonic Signage employees new contracts with AgiLight. All Tridonic employees with signage tasks as a portion of their job description will remain in their current functions with Tridonic supporting the transition to AgiLight.
In the future, AgiLight will continue to use the brands of Tridonic Signage and Talexx Signage and will continue to supply the existing Tridonic Signage product portfolio in addition to its own SignRayz® and BoxRayz® LED systems. The Tridonic plant in Jennersdorf, Austria, will continue to supply LED components and assemblies for LED chains in AgiLight’s signage product portfolio.