MUNICH — In a bid to win a bigger piece of the growing global market for LED systems and solutions, currently estimated at 700 million euros and growing at double-digit rates, Osram has forged a joint venture with Hong Kong-based Traxon Technologies Ltd. The deal gives Osram a majority stake in the 135-employee company, which will continue to be based in Hong Kong with R&D operations in both China and Germany. Targeting the growing market for LED technology in the field of architectural, hospitality and retail lighting, Traxon’s sales in fiscal 2008 were approximately 17 million Euros. The joint venture will continue operating primarily in Asia, Europe and North America. The parties have agreed to keep the purchase price undisclosed and the transaction is subject to the approval of the responsible cartel authorities.
“This new joint venture will make Osram one of the leading providers of LED lighting solutions,” said Osram CEO Martin Goetzeler. “The benefits of this partnership are very clear. We intend to create an integrated offering across the entire LED spectrum, which will be marketed through the joint worldwide partner and sales network. The joint venture will also act as a powerful driving force for the continuing innovative development of Osram’s components business.”
“With clear focus on the customers’ needs, this joint venture will be the choice for LED projects, systems and solutions,” said Nicolai Wiest, CEO of Traxon. “We will continue to build on our partnerships around the world to make it happen.”
Called Traxon Technologies — An Osram Company, the joint venture pools the resources of Osram with both former Traxon Technologies companies, Traxon and e:cue Lighting Controls. The company will have its head office in Hong Kong with R&D activities continuing in Paderborn, Germany, and Hong Kong.
For more information, please visit www.osram.com and www.traxon-usa.com.
