Power management company Eaton and lighting company Signify announced that they have entered that Signify is going to purchase Cooper Lighting Solutions in cash with US$1.4 billion.
Signify aims to strengthen its market position in North America with the acquisition. With the new business, the Dutch company hopes to improve the business mix in its Professional section. The transition is expected to finish in the first quarter of 2020.
Eaton announced its plan to spin off its lighting business in March and is now selling it to Signify after a comprehensive review of various potential transaction alternatives to maximize shareholder value, according to the company.

Cooper Lighting Solution locates in Peachtree City, GA, United States, providing solutions for professional lighting, lighting controls, and connected lighting. The business generated US$ 1.7 billion of sales in 2018, of which 84% were LED-based, a reported EBITDA of US$ 187 million and free cash flow of US$ 143 million.
Signify noted that Cooper Lighting will operate independently in sales, product and brand portfolio as well as marketing and product development. The lighting giant sees the integration of the two companies will be better positioned to benefit from the growing US$ 12 billion professional lighting market in North America, driven by the continued conversion to LED and the increased demand for connected lighting systems and controls.
“Today’s announcement confirms the strategic importance of the North American market for Signify. This acquisition will substantially strengthen our position in this attractive market,” said Eric Rondolat, CEO of Signify.