The following is an update from Eaton announcing the sale of Cooper Lighting Solutions to Signify (formerly known as Philips Lighting). Read more about the sale in a press release by Signify.
Dear valued Business Partners,
On October 15, we announced that we have entered into an agreement to sell our Lighting business (a.k.a., Cooper Lighting Solutions) to Signify N.V. (formerly known as Philips Lighting), a global lighting leader headquartered in the Netherlands. The sale, which is subject to regulatory and other approvals, is expected to close in the first quarter of 2020.
We are excited to become part of a company that shares our singular focus on lighting. We believe the combination of Cooper Lighting Solutions and Signify will enhance the depth and breadth of our product offerings and services. The combined business can leverage best-in-class global technology and supply chain capabilities to solve more complex customer problems through the use of light.
Signify and Cooper Lighting Solutions recognize that brands, agents and channel partners are important to success in the Americas. We will run separate commercial organizations and agent channels in North America as one of several strategies to ensure future success. Signify and Cooper Lighting Solutions will keep our existing product brands intact and our business will go to market as Cooper Lighting Solutions as part of a leading global lighting company, Signify.
The two businesses will continue to operate separately until closing, and we do not anticipate any disruptions to plant operations, customer service or support during this time.
I hope you will join us in our excitement over this news and share our enthusiasm for the future.
Sincerely,
Kraig KaslerPresident
Lighting Division, Eaton
Ken WalmaVP/General Manager
Lighting Division, Eaton
Joe MelchiorsVice President, Sales
Lighting Division, Eaton
