Lumileds sold for just $239m
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European LED supplier Lumileds has been sold for $239m.
The cash deal will see San’an Optoelectronics of China team with OSAT assembly house Inari Amertron Berhad acquire the Dutch holding company and its European and Asian subsidiaries, Lumileds International.
The business, based in Schipol, the Netherlands, was a joint venture between Philips and Agilent Technolgies and was spun off by Philips in 2016 to Apollo Global Management for $1.5bn at a valuation of $2.0bn. Back then it had a revenue of $2bn, compared to $600m in 2024.
“This transaction is the next step of our ongoing transformation. As the LED industry evolves and continues to mature, I am confident that Lumileds International will continue to be successful and accelerate its growth under the new ownership,” said Steve Barlow, CEO of Lumileds International.
The transaction is expected to close by the first quarter of 2026, subject to customary closing conditions.
The deal will help San’an gain entry into the international cross-licensing patent alliance led by Nichia, ams OSRAM, Cree LED, Lumileds, and Toyoda Gosei, says analyst Trendforce.
San’an, which also makes LED chips, has a revenue of $2.2bn for 2024, and will work with assembly plant operator Inari in Malaysia for the packaging of the LED devices
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