Lumileds
Private | |
Industry | Semiconductor |
Founded | 1999 |
Headquarters | Amsterdam, Netherlands |
Key people | Mark W. Adams, CEO |
Products | LEDs, Lighting, Automotive Lighting |
Number of employees | 9000 (2017) |
Website |
www |
Lumileds is a global lighting solutions company that develops, manufactures and distributes LEDs and automotive products. Lumileds operates as a private company, having funds affiliated with Apollo Global Management, LLC. It develops lighting solutions for the automotive, mobile, IoT and illumination segments.
Lumileds was formed in November 1999 as a joint venture between Philips Lighting and Agilent Technologies. Upon Philips' acquisition in 2005, Lumileds became a business unit within Philips Lighting and became known as Philips Lumileds Lighting Company.[1]
In March 2015, Lumileds parent company Philips agreed to sell an 80.1 percent stake in the business to the investment fund, Go Scale.[2] In October 2015, Financial Times reported that the Committee on Foreign Investment in the United States (CFIUS) regulatory body may block the $2.9B deal owing to fears of Chinese subversion of the US high-tech sector.[3] The deal was cancelled in January, 2016, due to the CFIUS concerns.[4] CFIUS concerns were based on transfer of gallium nitride semiconductor technology, which is used in LEDs as well as defense applications.[5]
In December 2016, Philips announced that it has signed an agreement to sell an 80.1% interest in Lumileds to certain funds managed by affiliates of Apollo Global Management. Philips retains the remaining 19.9% interest* in Lumileds. The transaction was completed in July of 2017, under customary closing conditions, including the relevant regulatory approvals.[6]
References
- ↑ "Philips takes control of LED maker Lumileds". LEDs Magazine. 15 August 2005. Retrieved 21 November 2016.
- ↑ Go Scale to fund Philips lighting components buy with $1.93 billion in debt, Reuters, 27 May 2015
- ↑ Duncan Robinson, "US may block Philips’ $3bn Lumileds sale", FT.com, October 26, 2015
- ↑ Philips Calls Off Sale of Controlling Stake in LED Business, New York Times, 22 January 2016
- ↑ Paul Mozur; Jane Perlez (5 February 2016). "Concern Grows in U.S. Over China’s Drive to Make Chips". The New York Times. p. B1. Retrieved 27 February 2017.
- ↑ "Lumileds Officially an Independent Company as Funds Affiliated with Apollo Global Management and Philips Complete Transaction". Lumileds Press Release. 5 July 2017.