Dec 17 2008
Osram is strengthening its portfolio in the field of professional LED lighting systems and solutions by setting up a joint venture with Traxon Technologies Ltd., Hong Kong. The new company, in which Osram has the majority shareholding, is one of the leading providers in the fast-growing market for LED technology in the field of architectural, hospitality and shop lighting. The company employs around 135 people and reported sales of around 17 million Euros in fiscal 2008. The company is operating globally 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. 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," explains Osram CEO Martin Goetzeler. "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. We will continue to build on our partnerships around the world to make it happen,” says Nicolai Wiest, CEO of Traxon.
The joint venture will bring the combined know-how of Osram and the both Traxon Technologies companies Traxon and e:cue Lighting Controls to offer customers integrated LED lighting solutions. Traxon not only offers a leading technology portfolio, it also has outstanding contacts in worldwide project business to architects and lighting designers. The range of light management and control software offered by e:cue plus Traxon’s focus on LED system and solution business are an important addition to Osram’s product portfolio.
Operating under the new name "Traxon Technologies – An Osram Company” the joint venture will continue to operate from its head office in Hong Kong while Traxon’s research and development activities will remain in Paderborn, Germany, and Hong Kong. The global market volume for professional LED systems and solutions is around 700 million euros and, with forecast annual growth of around 20-30 percent, is a major growth driver in the lighting industry.