Lumileds

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Lumileds Holding B.V.
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.com

Lumileds is a lighting company that develops, manufactures, and distributes LEDs, light bulbs, and related products for automotive lighting, general lighting, and specialty lighting. Lumileds operates as a private company, having funds affiliated with Apollo Global Management.

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 2017, under customary closing conditions, including the relevant regulatory approvals.[6]

References[edit]

  1. ^ "Philips takes control of LED maker Lumileds". LEDs Magazine. 15 August 2005. Retrieved 21 November 2016.
  2. ^ Go Scale to fund Philips lighting components buy with $1.93 billion in debt, Reuters, 27 May 2015[permanent dead link]
  3. ^ Duncan Robinson, "US may block Philips’ $3bn Lumileds sale", FT.com, October 26, 2015
  4. ^ Philips Calls Off Sale of Controlling Stake in LED Business, New York Times, 22 January 2016
  5. ^ 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.
  6. ^ "Lumileds Officially an Independent Company as Funds Affiliated with Apollo Global Management and Philips Complete Transaction". Lumileds Press Release. 5 July 2017.

External links[edit]