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© kritchanut dreamstime.com Business | December 21, 2021

ams OSRAM to sell Fluence business to Signify

ams OSRAM confirms that it has entered into a definitive agreement to sell its Fluence horticulture lighting systems business and brand to Signify for USD 272 million.

The transaction is yet another step in the execution of ams OSRAM’s strategy to focus and re-align the business portfolio on core technology areas in illumination, visualisation and sensing, which continues to include advanced LED solutions for horticulture lighting. ams OSRAM says it will continue to be a strategic LED supplier to the combined business for horticultural applications. Fluence is a global provider of energy-efficient LED lighting system solutions for the horticultural industry. The company is headquartered in Austin, Texas, United States and employs around 200 people globally. OSRAM acquired the business back in 2018. “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,” says Frans Scheper, Executive Vice President Opto Semiconductor Business in the press release. “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,” says 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.”
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June 21 2022 3:19 pm V20.6.1-2