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The Dutch company acquired Texas hemp plant lamp company for $272 million

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Holland lighting giant Signify has signed a final agreement to acquire Fluence, headquartered in Texas, for $272 million, which provides growth lights for cannabis growers and other agricultural companies. Signify said in a press release that the acquisition is in line with its expansion strategy in "attractive growth areas" and its commitment to reduce resource consumption and increase horticultural production. Fluence is currently a subsidiary of OSRAM headquartered in Munich, with more than 200 employees, generating revenue of US $141 million from October 2020 to September 2021. The acquisition is expected to be completed in the first half of 2022.


Source: mjbizdaily com