-ams OSRAM confirms that it will sell the Fluence horticulture lighting systems business to Signify in line with previous comments on an expected larger size disposal -Purchase price was agreed at USD 272 Million on a debt free / cash free basis -ams OSRAM will focus on its position as a leading provider of advanced LED technology for the horticulture market and continues as a strategic LED component supplier to the combined business -The acquisition is expected to close in first half of 2022, subject to standard regulatory approvals and other conditions
ams OSRAM (SIX: AMS), a global leader in optical solutions, announced today that it has entered into a definitive agreement to sell its Fluence horticulture lighting systems business and brand to Signify (EURONEXT: LIGHT) for an agreed purchase price of USD 272 Million on a debt free / cash free basis, in line with previous comments on an expected larger size disposal. This transaction represents a further significant step in the execution of ams OSRAM's strategy to focus and re-align its business portfolio on its core technology areas in illumination, visualization and sensing, which continues to include advanced LED solutions for horticulture lighting. ams OSRAM will continue to be a strategic LED supplier to the combined business for horticultural applications.
Fluence is a leading global provider of energy-efficient LED lighting system solutions for the horticultural industry. A pioneer in creating white light that mimics the spectrum of sunlight, the company is headquartered in Austin, TX, United States and employs around 200 people globally. Acquired by OSRAM in 2018, the company was recently named in the inaugural list of "Next Big Things in Tech" by Fast Company, the U.S. business magazine, where its innovative lighting solutions earned an honorable mention recognition for the company's contribution to changing how the world cultivates food.
"Fluence and Signify are a strong match in complementary lighting expertise for the horticulture market. Signify is an industry leader with over a century of history bringing innovative lighting technology, products and services to market. We are excited about the future opportunities for the Fluence employees, customers, and business partners that this combination will bring," said Wilhelm Nehring, CEO Digital Business Unit.
"ams OSRAM will continue to build on its position as a leader in red, blue and white LEDs for the horticulture market. We look forward to continue providing Signify, and Fluence as part of Signify, leading technology for their business," explained Frans Scheper, Executive Vice President Opto Semiconductor Business.
"Since Fluence's founding, it has been our sole mission to improve the interaction between light and life to yield a healthier and more sustainable world. Adding our lighting solutions to Signify's strong portfolio empowers our combined businesses to deliver the world's most advanced horticulture technology to cultivators on a global scale," said David Cohen, CEO of Fluence. "The combination of our companies will immediately expand our collective footprints and inject valuable expertise into both companies' product innovations. We look forward to uniting with the Signify team."
ams OSRAM offers an industry-leading horticulture LED portfolio for professional top lighting, inter lighting and vertical farming applications. The company is a worldwide technology leader in LEDs for horticulture lighting with a broad portfolio of red, blue and white LEDs. As an innovation leader in the red LED technology space, the company offers outstanding efficiency values within an industry leading portfolio. The High and Mid Power LED families include all important wavelengths for plant growth with 660 nm (hyper red), 450 nm (deep blue) and 730 nm (far red) in three different radiation angles 80°, 120° and 150° to support finding the ideal lighting for all types of plants. ams OSRAM offers vertical integrated LED technologies from epitaxy to chip design and package, providing guaranteed performance and excellent efficacy. ams OSRAM's LED products were implemented in greenhouses and vertical farms in China, the U.S., Italy and Germany and are expanding to new projects across the world.
For more information on ams OSRAM please visit our website at ams-osram.com.
About ams OSRAM
The ams OSRAM Group, with its parent company ams AG (SIX: AMS), is a global 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 is defined by imagination, deep engineering expertise and the ability to provide global industrial capacity in sensor and light technologies. We create exciting innovations that enable our customers in the consumer, automotive, healthcare and industrial sectors maintain their competitive edge and drive innovation that meaningfully improves the quality of life in terms of health, safety and convenience, while reducing impact on the environment.
Our around 26,000 employees worldwide focus on innovation across sensing, illumination and visualization to make journeys safer, medical diagnosis more accurate and daily moments in communication a richer experience. Our work creates technology for breakthrough applications, which is reflected in over 15,000 patents granted and applied. Headquartered in Premstaetten/Graz (Austria) with a co-headquarters in Munich (Germany), the group achieved well over USD 5 billion combined revenues in 2020 (pro-forma) and is listed as ams AG on the SIX Swiss Exchange (ISIN: AT0000A18XM4).
Find out 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 registered or filed trademarks of ams OSRAM Group. All other company or product names mentioned herein may be trademarks or registered trademarks of their respective owners. Information provided in this press release is accurate at time of publication and is subject to change without advance notice.