According to reports, Tridonic GmbH & Co KG, a supplier of LED lighting component systems and a member of the Austrian lighting group Zumtobel, decided to sell its LED signage business to AgiLight in the United States.
Through the acquisition of Tridonic's signage business, AgiLight, a subsidiary of General LED Inc., based in San Antonio, Texas, will be one of the largest LED system suppliers in the global signage market. AgiLight's core markets are in the US, Latin America and Middle East markets, which complements the strong markets of Tridonic Europe, Asia and Australia. For Tridonic, the move marks another milestone in its focus on innovative LED components and general lighting systems. The sale of the signage business will take the form of asset transactions. After mutual agreement, the sale price remains confidential.
“We are very pleased to find an ideal partner like AgiLight and to promote the development of our signage business through its technical expertise. Since commercial signage is one of the first professional applications of LED lighting, we have been expanding our business to the year since 2001. With revenues of nearly 20 million Euros, it is time to sell the signage business to companies dedicated to the global signage market, taking into account specific sales methods and different customer bases. Tridonic will use its experience and expertise to drive the trading process to ensure Successfully handed over to our customers. We focus on developing smart and general lighting that connects LED components and systems,†said Tridonic CEO Alfred Felder.
“This acquisition is in full compliance with our global development strategy. This business will enhance our company's global position as the LED partner of choice for signage companies, and provide a global product portfolio of LED solutions to accelerate the pace of innovation and new technology development. Our mission is to create value for our customers while helping them achieve greater growth and competitiveness,†said Steven Moya, President and CEO of AgiLight.
In order to maintain market momentum and give customers continued motivation, AgiLight will provide AgiLight's new employment contract for Tridonic's current loyal signage employees. All of Rico’s signage employees who match the job description will transition to AgiLight for the same position.
In the future, AgiLight will continue to use the Tridonic and TALEXX signage brands and will continue to offer the existing Tridonic label portfolio, with the exception of its own SignRayz and BoxRayz LED systems. Tridonic's Yeenersdorf plant in Austria will continue to supply LED components and assemble the AgiLight branded LED product chain.
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