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ams OSRAM confirms it will sell the Fluence horticultural lighting systems business to Signify as per previous comments on larger phase-out expected
The purchase price was agreed to at $ 272 million on a debt-free / cash-free basis
ams OSRAM will focus on its position as a leading supplier of advanced LED technology for the horticulture market and will continue as a strategic supplier of LED components for the combined business
The acquisition is expected to be completed in the first half of 2022, subject to standard regulatory approvals and other conditions.
PREMSTAETTEN, Austria – (BUSINESS WIRE) –
ams OSRAM (SIX: AMS), a global leader in optical solutions, today announced it has entered into a definitive agreement to sell its Fluence horticultural lighting systems business and brand to Signify (EURONEXT: LIGHT) for a fee agreed purchase of $ 272 million on a debt / cashless basis, consistent with previous comments on an expected larger divestiture. This transaction represents another important step in the execution of ams OSRAM’s strategy of focusing and realigning its business portfolio on its core lighting, visualization and sensing technology areas, which continues to include advanced LED solutions for horticultural lighting. ams OSRAM will continue to be a Strategic supplier of LEDs to the combined business for horticultural applications.
Fluence is one of the world’s leading providers of energy efficient LED lighting system solutions for the horticulture industry. A pioneer in creating white light that mimics the spectrum of sunlight, the company is headquartered in Austin, TX, United States and employs approximately 200 people worldwide. Acquired by OSRAM in 2018, the company was recently named to the inaugural list of “Next big things in techBy Fast Company, the American business magazine, where its innovative lighting solutions received an honorable mention for the company’s contribution to changing the way the world grows food.
“Fluence and Signify form a strong alliance in complementary lighting expertise for the horticultural market. Signify is an industry leader with over a century of history bringing innovative lighting technologies, products and services to market. We are excited about the future opportunities for Fluence employees, customers and business partners that this combination will bring, ”said Wilhelm Nehring, CEO of the Digital Business Unit.
“Ams OSRAM will continue to strengthen its leadership position in red, blue and white LEDs for the horticultural market. We look forward to continuing to provide Signify and Fluence as part of Signify, cutting edge technology for their business, ”said Frans Scheper, executive vice president of Opto Semiconductor Business.
“Since the inception of Fluence, our sole mission has been to improve the interplay between light and life to create a healthier and more sustainable world. Adding our lighting solutions to Signify’s strong portfolio enables our combined businesses to deliver the world’s most advanced horticultural technology to growers globally, ”said David Cohen, CEO of Fluence. “The combination of our companies will immediately expand our collective footprints and inject valuable expertise into the product innovations of both companies. We look forward to joining the Signify team.
ams OSRAM offers a range of industry-leading horticultural LEDs for professional upper lighting, mid-lighting and vertical farming applications. The company is a global technology leader in LEDs for horticultural lighting with a broad portfolio of red, blue and white LEDs. As an innovation leader in red LED technology, the company delivers exceptional efficiency values within an industry leading portfolio. The high and medium power LED families include all wavelengths important for plant growth with 660nm (hyper red), 450nm (deep blue) and 730nm (far red) in three different 80 ° radiation angles , 120 ° and 150 ° to support finding the ideal lighting for all types of plants. ams OSRAM offers vertically integrated LED technologies, from epitaxy to chip design and package, delivering guaranteed performance and excellent efficiency. Ams OSRAM LED products have been implemented in greenhouses and vertical farms in China, USA, Italy and Germany and are expanding into new projects around the world.
For more information about ams OSRAM, please visit our website at ams-osram.com.
About ams OSRAM
The ams OSRAM group, together with its parent company ams AG (SIX: AMS), is a world leader in optical solutions. By adding intelligence to light and passion to innovation, we enrich people’s lives. This is what we mean by Sensing is Life.
With over 110 years of combined history, our core business is defined by imagination, deep engineering expertise and the ability to deliver global industrial capability in sensor and light technologies. We create exciting innovations that enable our customers in the consumer, automotive, healthcare and industrial sectors to maintain their competitive edge and drive innovation that dramatically improves the quality of life in terms of health, safety and convenience, while reducing the impact on the environment.
Our more than 26,000 employees worldwide are focused on innovation in sensing, lighting and visualization to make journeys safer, medical diagnoses more accurate and everyday moments of communication a richer experience. Our work creates technology for revolutionary applications, reflected in more than 15,000 issued and applied patents. Based in Premstaetten / Graz (Austria) with a co-headquarters in Munich (Germany), the group achieved a combined turnover of over $ 5 billion in 2020 (pro forma) and is listed as ams AG on the SIX Swiss Exchange (ISIN: AT0000A18XM4).
Learn more about us on https://ams-osram.com
ams is a registered trademark of ams AG. In addition, many of our products and services are trademarks or registered trademarks of the ams OSRAM group. All other company or product names mentioned in this document may be trademarks or registered trademarks of their respective owners. The information provided in this press release is correct at the time of publication and is subject to change without notice.