2019-12-09

AMS Succeeds in Osram Buyout with Second Bid

Austrian sensor company AMS has successfully takeover Osram with its EUR 4.6 billion (US$5.9 billion) bid in the second attempt by achieving the acceptance threshold of 55% of share. Both AMS and Osram published the final result on December 6, 2019. AMS first offered Osram a bid at EUR 38.5 per share (US$ 42.6) in July, 2019 and raised the price to EUR 41 per share later in October to compete with other bidder. However, the first takeover failed as AMS did not achieve the minimum acceptance threshold of 62.5%. The sensor specialist soon launched new...
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2019-11-27

Magna Acquires Czech Automotive Lighting Company

Canada-based automotive component provider Magna announced the acquisition of Wipac Czech, an automotive lighting engineering firm located in Czech Republic. The transaction was closed last week and will expand Magna’s engineering capabilities globally. Wipac Czech’s engineering team designs and develops automotive forward lighting, primarily for European exotic and luxury brand including Aston Martin, Bentley, Rolls Royce, McLaren, Lamborghini, Bugatti, Audi, Daimler, BMW and Porsche. (Image: Magna) “We see Wipac Czech playing an imp...
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2019-10-16

Signify to Acquire Cooper Lighting from Eaton for 1.4 Billion

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 v...
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2019-10-05

AMS Fails to Takeover Osram but Aims to Continue Acquisition

AMS failed to complete its Osram takeover plan despite that it has raised the bid to EUR 4.5 billion (US$ 4.9 billion) with the price of EUR 41 (US$ 45) per share. However, the sensor maker said that it will continue pursuing the acquisition of Osram. AMS reported on October 4 that it did not reach the minimum acceptance threshold of 62.5% required for completing Osram takeover. Instead, the final acceptances level was 51.6% including its direct shareholding of 20%, making AMS the current largest shareholder of Osram. The sensor company, however, still sees...
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2019-10-03

AMS to Reveal the Result of Osram Takeover after Offer Price Increased

AMS is going to announce the result of Osram’s takeover bid on October 3 after it reported that it is holding 19.99% of all Osram shares on October 1 as a direct shareholding, before the offer expired at midnight. The sensor maker targeted for a minimum of 62.5% shareholding to win the bid against Bain and Advent. The consortium of Bain Capital and Advent reported their interests of joining the bidding with a better offer on September 26, which pushed AMS to raise its offer price from EUR 38.5 (US$ 42.17) per share to EUR 41 (US$ 44.91) on September 27...
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2019-09-26

Osram Bidding War Goes on with Bain and Advent to Raise Takeover Offer

Osram announced on September 25 that “the courtship” of the company continues as Bain Capitan and its new partner, Advent, are in talk with Osram with its willingness to make a new takeover for the German high tech company, confronting sensor maker AMS. According to Osram, the consortium of Advent and Bain Capital has indicated that “it may offer a ‘meaningful’ premium over the current offer from AMS of EUR 38.50 (US$42.14) per share.” The new bidders also said that their binding offer will be superior not only in terms of price ...
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2019-09-11

Acuity Brands Takeovers The Luminaires Group

Acuity Brands announced that its wholly-owned subsidiary, Acuity Brands Lighting, has entered into a purchase agreement to acquire all of the equity interests of The Luminaires Group (TLG) including its five lighting brands: a-light, Cyclone, Eureka, Luminaire LED and Luminis. TLG generates annual sales of approximately US$100 million and employs over 350 associates located across five locations in the U.S. and Canada. Each TLG brand has its own business focus on indoor architectural lighting, outdoor decorative luminaires, indoor and outdoor contemporary d...
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2019-08-22

Osram Waives Standstill Agreement with AMS

Osram announced that its Managing Board and Supervisory Board have waived the existing standstill agreement with AMS and signed a cooperation agreement. This clears the way for a voluntary public takeover offer by AMS. The offer, which is expected to be valid until the beginning of October, amounts to EUR 38.50 (US$ 42.70 ) in cash per share, with a minimum acceptance level of 70 percent. Olaf Berlien, CEO of OSRAM, commented, “Our shareholders now have two offers on the table, allowing them to choose between the different business concepts.” ...
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2019-08-16

Architectural LED Lighting Company Luminii Acquires Competitor Optic Arts

US-based architectural LED lighting manufacturer Luminii announced the acquisition of its competitor Optic Arts, based in Los Angeles. With the acquisition, Luminii will include Optic Arts’ product lines into its portfolio, reinforcing its commitment of growing, according to the company’s CEO, Jeff Parker. (Image: Luminii) Parker noted that the distribution strategies of Luminii and Optic Arts are complementary and will remain in place after the Optic Arts acquisition. The team from Luminii remains agent focused, calling on the specification ...
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2019-08-13

Osram Confirms AMS’ EUR 4.3 Billion Proposal and Starts Negotiation

Sensor maker AMS officially joined the bidding competition for Osram takeover against Bain Capital and The Carlyle Group. Osram confirmed the proposal from AMS on August 12 and will start negotiations with AMS. AMS announced on August 11 that it has submitted a takeover proposal to Osram at a price of EUR 38.50 per share (US$ 43.08), which is 10 percent higher than the price offered by Bain and Carlyle (EUR 35 per share). Based on the AMS’ offer, the value of Osram is around EUR 4.3 billion (US$ 4.81 billion).   The sensor maker a...
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2019-07-31

Osram’s Fiscal 3Q19 Remains Weak and Managing Board Expects Shareholders to Accept Takeover Offer

Osram announced the financial results of fiscal 3Q19 which marked “no signs of business revival” for the company. The quarterly revenue dropped by 14.9% YoY to EUR 850 million (US$ 948.28 million). Its EBITA fell by 66.2% YoY with EUR 42 million (US$ 46.86 million). EBITDA adjusted for special items was EUR 58 million (US$ 64.72 million), which was down by 58% compared to previous year’s figure; net income amounted to minus EUR 35 million (US$ 39 million). All three business segment of Osram, Opto Semiconductors, Automotive a...
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2019-07-16

AMS Withdraws Takeover Offer to Osram within One Day due to “Insufficient Basis”

Osram announced that it Austrian company ams has approached with the interest of a public takeover of Osram with a value of EUR 38.50 (US$ 43.36) per share. However, right after Osram’s announcement, ams decided to withdraw the offer as the company did not see “sufficient basis” for continually talking with Osram. According to Osram, ams showed the interest of acquiring Osram by EUR 38.5 per share. The announcement noticed that to support the offer, ams will need a temporary bridge-loan facility of EUR 4.2 billion (US$ 4.73 billion) and a capital i...
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2019-07-05

Osram Supports Public Takeover Offer from Bain Capital and The Carlyle Group

Soon after Osram’s announcement of the bidding offer from Bain Capital and the Carlyle Group, the German company said that it will support the public takeover offer. On July 4th, Osram announced that its Managing Board and Supervisory Board decided to support the legally binding transaction offer for the public takeover of all the shares of Osram by Bain Capital and the Carlyle Group. Osram and the consortium have also concluded an investor agreement that includes comprehensive commitments. “Bain and Carlyle are the right partners for Osram at the rig...
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2019-07-04

Bain Capital and Carlyle Offer US$ 3.8 Billion to Acquire Osram

Osram announced a confirmation of receiving a binding offer from Bain Capital and The Carlyle Group, the US-based private equity firms who have been in talk with the German company for a buyout since the end of 2018. According to Osram, the inventors have offered an amount of EUR 35 (US$39.5) per share for the buyout, which will be approximately 3.4 billion euro ($3.8 billion) for concluding the investor agreement and to make a public takeover offer. Osram said, “The responsible decision bodies will discuss and decide on this offer shortly.” Osram has b...
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2019-06-25

Osram Announces the Sales of Siteco Luminaires Business to Stern Steward Capital

Osram moved a step forwards to its transformation to a high-tech company by selling its Siteco luminaires business to Stern Steward Capital, the investment arm of Stern Steward & Co. based in Munich. According to Osram, “Separation from Osram gives Siteco entrepreneurial freedom,” and Stern Stewart Capital will continue the current transformation approach. Despite that the financial details of the transaction were not revealed by both parties, Osram noted that its cost situation would also be improved with the elimination of previous Group structures. ...
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2019-06-21

Acuity Brands Acquires Component Supplier WhiteOptics

Acuity Brands announced that it has acquired WhiteOptics, a manufacturer of advanced optical components used to reflect, diffuse and control light for LED lighting used in commercial and institutional applications. According to Acuity Brands, the acquisition is not expected to impact the company’s fiscal 2019 consolidated financial performance and acquisition detials were not disclosed. “Optical systems have become increasingly complex as LED technology has evolved,” said Tommy Harris, Vice President – Indoor Product Solutions, Acuity Br...
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2019-04-03

GE Completes Sale of Current, powered by GE to American Industrial Partners

GE announced that it has completed the sales of Current, powered by GE business unit to American Industrial Partners (AIP), following the agreement signed in November 6, 2018. Current, powered by GE was established by GE in 2015 as a startup subsidiary offering smart lighting and control services through the integration of LED technology, networked sensors and software. The business delivers energy savings and operational productivity for its customers, which include commercial offices, retail stores, industrial facilities and cities. Under a long-term licensing agre...
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2019-03-28

Merger of Finisar and II-VI Approved by Shareholders of Both Firms

II-VI announced that its acquisition of Finisar, the optical communications solutions provider and an Apple supplier, has been approved by shareholders of both companies, bringing the merge of the two firms a step forward. In November 2018, the optoelectronic component manufacturer II-VI revealed that it is acquiring Finisar with a deal worth US$3.2 billion cash and stock. The companies now announced that the merger agreement received supports by their shareholders respectively. 97% of the shares of II-VI common stock voting at II-VI’s special meeting voted...
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2019-03-18

Cree Announces the Sale of Lighting Business to Ideal Industries

Cree is selling its lighting business to Ideal Industries, an Illinois-based electric power control and management company, to continue its strategy of becoming a more focused, powerhouse semiconductor company. Cree announced the execution of a definitive agreement to sell Cree Lighting, the lighting products business unit, which includes the LED lighting fixtures, lamps and corporate lighting solutions business for commercial, industrial and consumer applications. According to Cree, the deal is about US$310 million before tax. The company expects to receive an initial cash...
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2019-03-07

WESCO Completes Sylvania Lighting Acquisition

WESCO International announced that its WESCO Services subsidiary has completed the purchase of Sylvania Lighting Solution (SLS), the North American service business of Osram, following the previous announcement in January. Osram has planned to sell the SLS business in the U.S. and Canada since May 2018. On January 16, 2019, Osram announced the sale of the business to WESCO International. SLS offers a full spectrum of energy-efficient lighting upgrade, retrofit, and renovation solutions with annual sales of more than US$100 million and appro...
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2018-12-25

Fagerhult Buys Italy’s iGuzzini for 385 Million Euros

Sweden-based Fagerhult announced on December 21 that it has signed an agreement to acquire iGuzzini, the Italian lighting group for EUR 385 million (US$ 439 million). According to Fagerhult, the price of EUR 385 million will be paid with 74 percent in cash and 26 percent in new Fagerhult shares. The transaction is expected to complete in the first quarter of 2019. With iGuzzini joining the Fagerhult Group will, the largest lighting company in the Nordic countries will increase its presence in Italy, Switzerland, Spain and North America. The combined compan...
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2018-12-21

Philips to Sell Its VCSEL Group to TRUMPF

German company TRUMPF is going to acquire Philips Photonics, the VCSEL production units of Royal Philips, to expand its product portfolio for 3D sensing and data transmission applications. Back in November Philips Photonics announced a milestone of shipping one billion VCSELs and soon after that the company was said to have increased the capacity of VCSEL production in Ulm, Germany. And now it is selling 100 percent of the operation to TRUMPF. The two companies are planning to finish the operation transaction by the second quarter of 2019 and neith...
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2018-11-19

Infineon Acquires SiC Wafer Technology Startup Siltectra

Infineon Technologies has announced the acquisition of Siltectra, a Dresden-based start-up which developed an innovative technology, named Cold Split, for processing crystal material. The company was acquired for EUR 124 million (US$141.38 million). With the acquisition, Infineon aims to adopt Cold Split technology to split silicon carbide (SiC) wafers, doubling the number of chips out of one wafer. “This acquisition will help us expand our excellent portfolio with the new material silicon carbide as well. Our system understanding and our unique know how on thin ...
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2018-11-12

II-VI to Acquire Apple Supplier Finisar for US$ 3.2 Billion

Optoelectronic component producer II-VI Inc. announced on November 9th that it is going to acquire Finisar, the supplier of optical communication products for Apple with a deal worth US$3.2 billion cash and stock.
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2018-11-07

GE to Sell Current to American Industrial Partners

General Electric (GE) has begun organization restructure and unveiled the intention to sell its lighting business since a year ago. In July 2018, the company has scheduled the selling plan to be in the end of the year. Finally, GE announced on November 6th that it has signed a proposed agreement to sell its Current, powered by GE business to American Industrial Partner (AIP)
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2018-10-19

Swedish Fagerhult to Acquire Italian Lighting Group iGuzzini

AB Fagerhult, the largest lighting company in the Nordic countries has signed a Letter of Intent (LOI) with the shareholders of iGuzzini, an Italian lighting group, to acquire 100 percent of the shares of iGuzzini.
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2018-07-03

Magna Buys Olsa and Expands Lighting Business

Canadian automotive components supplier, Magna, announced that the company has signed a deal to buy Olsa S.p.A, an Italian automotive lighting producer for approximately 230 million euros. The acquisition will extend Magna’s capability of producing lighting product from designing to manufacturing. 
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2018-05-16

Osram Acquires Stake in Montreal-based Horticulture Start-up Motorleaf

Osram’s venture capital arm, Fluxunit, has acquired a stake in Canadian startup Motorleaf, an artificial intelligence company focused on bringing actionable, datadriven insights to greenhouse and indoor farm operators.
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2018-05-14

Philips Lighting Acquires Chinese Urban Lighting Company LiteMagic Technologies

Philips Lighting announced it has entered into an agreement to acquire Shenzhen LiteMagic Technologies Co., Ltd., a Chinese manufacturer and seller of lighting luminaires and control systems for urban and façade lighting.
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2018-05-14

Leyard and Planar Complete Acquisition of eyevis

Leyard and Planar, specialized in visualization products, announced May 10 that they have completed the acquisition of eyevis, which includes the company Teracue. In line with the announcement earlier in April, Leyard and Planar have completed the acquisition process.
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Nichia’s Tunable 757 receives rave reviews from industry leaders, including the coveted LpS Best Sustainability Technology Award. Nichia, the leader in and inventor of the high-brightness LED, announced its game-changing single LES, tuna... READ MORE

Innovative tunable white, mid-power LED enables luminaire manufacturers to improve colour tuning, shrink optics and fixture profiles, while enabling new design options. Nichia, the leader in and inventor of the high-brightness LED, announces i... READ MORE