OSRAM has sold LEDVANCE, a general lighting provider for professional users and retail customers, to a Chinese investment consortium consisting of strategic investor IDG Capital, LED packaging manufacturer MLS CO., LTD., and Yiwu State-Owned Assets Operation Centre, effective March 3rd, 2017. This comes after all parties obtained all necessary approvals from the relevant authorities.
“We are very pleased with this transaction, as MLS and LEDVANCE complement each other in an ideal way. Through MLS, we gain access to very cost-efficient and powerful LED components and will strengthen our market presence in Asia, especially in China,” said Jes Munk Hansen, CEO of LEDVANCE, in a press release. “This supports the LEDVANCE strategy to expand our product portfolio, foremost in the areas of LED lamps, LED luminaires and Smart Lighting. We look forward to pursuing the many new opportunities that the partnership with MLS brings.”
The companies will now focus on leveraging synergies. Through MLS, the firm is able to access cost-efficient LED components for its LED products and will be able to expand its market presence in China, the largest lighting market in the world. MLS also benefits from LEDVANCE’s vast industry experience and its strong international market presence.
LEDVANCE will continue to use the OSRAM brand name for its products, and SYLVANIA in the U.S. and Canada. Intellectual property rights have been clearly allocated.