ams OSRAM announced today that it has entered into a definitive agreement to sell its Fluence horticulture lighting systems business and brand to Signify for an agreed purchase price of USD 272 Million on a debt free / cash free basis, in line with previous comments on an expected larger size disposal.
"This transaction represents a further significant step in the execution of our strategy to focus and re-align its business portfolio on its core technology areas in illumination, visualization and sensing, which continues to include advanced LED solutions for horticulture lighting," ams OSRAM says. "We 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. Well-known for in creating white light that mimics the spectrum of sunlight, the company is headquartered in Austin, TX, United States and employs around 200 people globally. Fluence was acquired by OSRAM in 2018.
"Fluence and Signify are a strong match in complementary lighting expertise for the horticulture market. Signify is an industry leader with over a century of history bringing innovative lighting technology, products and services to market. We are excited about the future opportunities for the Fluence employees, customers, and business partners that this combination will bring" said Wilhelm Nehring, CEO Digital Business Unit.
"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," explained Frans Scheper, Executive Vice President Opto Semiconductor Business.
"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," said 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."
ams OSRAM offers a horticulture LED portfolio for professional top lighting, inter lighting and vertical farming applications. The company is active globally in LEDs for horticulture lighting with a broad portfolio of red, blue and white LEDs.