Business | November 10, 2011
Osram acquires remaining shares in Traxon
Osram AG acquired the remaining shares in Traxon Technologies, Ltd. (Traxon) from its joint venture partner as of 9 November 2011.
With this acquisition, Osram further strengthens its business in the strongly growing market for professional LED lighting solutions. Traxon specializes in applications for the architectural, shop and hospitality segments. Osram obtained a controlling 51 percent in Traxon back in 2009.The joint venture has since been operating under the name of "Traxon Technologies – An Osram Company". "We are supporting our own development measures with selected acquisitions with a view to systematically expanding our business with LED and lighting solutions, both technologically and regionally," said Martin Goetzeler, member of the Managing Board of OSRAM AG and Chief Operating Officer. Headquartered in Hong Kong and in Paderborn, Germany, Traxon Technologies is a leading global supplier of professional LED systems & solutions which include luminaires and lighting control systems. LED solutions for the architecture, hospitality and shop segments are marketed under the brand names of Traxon and e:cue. Over 4,000 installations and projects around the world, including Worldwide Plaza in New York and the “Christ the Redeemer” statue on Sugar Loaf Mountain in Rio de Janeiro, testify to Traxon's achievements in this field. "Acquiring Traxon is an important step for Osram on its way to becoming one of the leading suppliers of LED lighting solutions. With our technology, we provide the right light, in the right amount, at the right place, at the right time" said Klaus-Günter Vennemann, CEO of Osram's General Lighting business unit. “This is great news for our team, our customers and partners. Being fully part of Osram will allow Traxon and e:cue to further strengthen our position in the market for innovative and flexible solid state lighting systems and solutions,” said Nicolai Wiest, CEO of Traxon Technologies.
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