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Chinese Consortium Completes Acquisition of LEDVANCE

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 successfully completed on March 3rd, 2017 and with economic effect as of March 1st, 2017.
LEDVANCE and MLS will now focus on leveraging synergies. Through MLS, LEDVANCE now gains access to cost-efficient LED components for its LED products and will be able to expand its market presence in China, the largest lighting market in the world. MLS, in turn, benefits from LEDVANCE’s vast industry experience and its strong 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 clearly allocated, so MLS and LEDVANCE can continue to drive innovations globally.
More information about this news can be found at: https://www.led-professional.com/business/company-information/chinese-consortium-completes-acquisition-of-ledvance
 
(News resource from: https://www.led-professional.com)