The sale of LEDVANCE by OSRAM to the Chinese investment consortium, consisting of the strategic investor IDG Capital, the LED packaging manufacturer MLS CO. LTD. (MLS) and Yiwu State-Owned Assets Operation Center (Yiwu), was completed. This follows the parties obtaining all necessary approvals from the relevant authorities.
“We are pleased with this transaction, as MLS and LEDVANCE complement each other. Through MLS, we gain access to LED components and will strengthen our market presence in Asia, especially in China. This supports the LEDVANCE strategy to expand our product portfolio in the areas of LED lamps, LED luminaires and Smart Lighting. We look forward to pursuing the opportunities that the partnership with MLS brings,” says Jes Munk Hansen, CEO of LEDVANCE.
“It is great to be part of this acquisition, as it brings together a Chinese LED manufacturer and a German lighting company with over 100 years of experience. What drives us as the majority owner within the investment consortium, is to leverage our global investment expertise and resources to help Chinese companies and companies from developed markets make the most out of their joint market potentials,” says Antony Yu, partner from IDG Capital.
“We are looking forward to working together with our colleagues at LEDVANCE. The experience and qualifications of LEDVANCE’s management team and employees provides a basis for collaboration. We will be working together in order to strengthen our position in the global lighting market,” says Sun Qinghuan, chairman of MLS.
LEDVANCE and MLS will now focus on leveraging synergies. Through MLS, LEDVANCE gains access to LED components for its LED products and will be able to expand its market presence in China. MLS, in turn, benefits from LEDVANCE’s industry experience and its international market presence.
Based on an agreement with OSRAM, LEDVANCE will continue to use the OSRAM brand name for its products (SYLVANIA for USA and Canada). Intellectual property rights have been allocated, so MLS and LEDVANCE can continue to drive innovations globally.