Lumileds (San Jose, CA) announced that funds affiliated with investment firm Apollo Global Management (New York City, NY) and Royal Philips (Amsterdam, Netherlands) have been transferred to complete their previously disclosed transaction (see below), resulting in Lumileds operating as an independent company. Lumileds develops lighting LEDs for the automotive, mobile, Internet of Things (IoT), and illumination markets.
Lumileds began as part of Royal Philips; in 2014, Royal Philips split into two companies, one concentrating on LED lighting (Lumileds) and the other on health care and consumer lifestyle (Royal Philips). Lumileds was owned by Royal Philips.
As announced in December 2016, Apollo and Philips agreed to a transaction where Philips would sell 80.1% interest in Lumileds to funds managed by Apollo and retain the remaining 19.9% interest in the company.
Lumileds is one of the technology leaders in the lighting LED industry, producing white LEDs as well as a wide range of single-color LEDs in the visible and near-IR. The company has introduced, for example, LEDs with a projected lifetime of 114 years, as well as illumination LEDs with colors such as mint green.
For further information, see www.lumileds.com
Source: Lumileds
