Plextek has sold streetlight management brand Telensa to Signify Holdings.
The move is expected to complement Signify's existing activities in street lighting by adding new technology and customers.
Telensa developed a system that manages and controls streetlights, a process now labelled as smart street lighting. It utilises the ultra narrow band wireless protocol to achieve coverage owing to its long radio range and corresponding low requirements for cells and associated base station hardware.
The Telensa system is typically procured by local councils and utility organisations attracted by its green credentials, creating a return on investment in just three years based on savings from lower electricity consumption and reduced maintenance costs.
In 2015, sustainability investor ETF Partners invested in Telensa to enable a scale-up that led to more than 2 million connected streetlights in 400 cities globally, based on nearly 100 networks.
Plextek chairman Dr Colin Smithers says “We are delighted to see Telensa leave the nest and find its new home with Signify – formerly Philips Lighting. Completing its journey with us marks the start of a new adventure with Signify and the next stage in global scale-up. It has also been a delight working with Patrick Sheehan’s group at ETF Partners who have always been helpful and constructive during the inevitable ups and the downs of growing a tech company.”
