EQS-News: ams-OSRAM AG / Key word(s): Disposal
ams OSRAM signs agreement to sell its dynamic lighting business Traxon Technologies to Prosperity Group
Premstaetten, Austria and Munich, Germany (10 May 2022) -- ams OSRAM (SIX: AMS), a global leader in optical solutions, announced today that an agreement has been reached to sell the Traxon Technologies business, including the benchmark dynamic lighting controls e:cue, to Prosperity Group, a privately owned lighting company headquartered in Hong Kong. Prosperity Group is a modern conglomerate deep-rooted in the lighting industry with investments and operations across diversified business sectors in global markets and a long-term partner to ams OSRAM and OSRAM for over 40 years. The transaction is subject to customary closing conditions.
With its world class portfolio of e:cue control systems in combination with Traxon-created OSRAM and Traxon branded luminaires, Traxon Technologies is a global leader in providing complete dynamic media and facade lighting solutions. It acts as a one-stop-shop for complete, sustainable and intelligent lighting solutions for architectural, entertainment, hospitality and retail lighting experiences. With over 4,000 installations completed globally, the company offers professional and comprehensive services spanning from lighting design, product engineering and development, project planning and management, system integration, testing and commission to system maintenance. Headquartered in Hong Kong, Traxon operates two major development hubs located in China and Germany combined with a strong global sales force.
“With this acquisition, we take a significant step into the global lighting market, with strengthened ability to provide complete solutions and services globally,” said Jack Chong, General Manager of Prosperity Group. “Running as an independent company within our group, Traxon Technologies will continue to drive its mission as a global leader in dynamic lighting and general lighting solutions and provide professional services and support to customers and projects. As a testament to the long-term trusted partnership with OSRAM, we are delighted to become the licensee for the OSRAM brand for Traxon’s high quality luminaire products.”
Dr. Wilhelm Nehring, EVP Business Unit Digital at ams OSRAM commented: “Prosperity Group offers a long-term perspective for our Traxon employees and our customers along with the ability to foster additional value creation for customers. Prosperity’s deep roots in the lighting industry, its experience in luminaires and the long-term relationship between the companies make this an ideal next step in the evolution of the whole Traxon team.”
“We look forward to joining the Prosperity family. Both companies have a deep market knowledge and customer understanding. With a matching long-term vision of the business and all aspects of strong support, I am confident Traxon, including its benchmark dynamic lighting controls e:cue, will continue its mission as a global leader in dynamic lighting and general lighting solution and providing professional services and support to customers and projects,” said Selina Lo, General Manager Traxon Technologies.
ams OSRAM will continue to focus on the high technology semiconductor business and the transaction represents a further milestone in the implementation of ams OSRAM’s strategy to focus on core technology areas in illumination, visualization and sensing and to divest businesses that are not core to the company’s strategy. This transaction does not include ams OSRAM illumination components and technologies.
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About ams OSRAM
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 24,000 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 over EUR 5 billion revenues in 2021 and is listed as ams-OSRAM AG on the SIX Swiss Exchange (ISIN: AT0000A18XM4).
ams is a registered trademark of ams-OSRAM 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.
About Prosperity Group
Founded in 1978 and headquartered in Hong Kong, Prosperity Group is a modern conglomerate deep-rooted in lighting industry with investments and operations across diversified business sectors in global markets. As the first of many path-breaking investments, we started partnering with globally renowned lighting brand Osram from a joint venture formed in 1995, ever since they have started their production in China. We are the 2nd largest shareholder of Foshan Electrical and Lighting Co.,Ltd.
Efficient and resource-friendly production processes and state-of-the-art solutions for environmental sustainability are the integral part of the group defining itself as Prosperity. Years of thriving and long-accumulated expertise enable us to continue moving forward, creating more development opportunities and making greater progress to improve the quality of people’s life.
10.05.2022 This Corporate News was distributed by EQS Group AG. www.eqs.com
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