"San'an and Inari to Purchase Complete Ownership of Lumileds Holding B.V.'s Shares"
In a significant move, San'an Optoelectronics and Inari Amertron Berhad have announced their intent to acquire 100% of Lumileds Holding B.V., including its European and Asian subsidiaries, collectively known as Lumileds International. The deal, worth approximately $239 million in cash, is expected to close by the first quarter of 2026, subject to customary closing conditions and regulatory approvals.
San'an Optoelectronics, a China-based high-end LED chip manufacturer listed on the Shanghai Stock Exchange, has annual revenue of about $2.2 billion (RMB16.1 billion) for the financial year ended 31 December 2024. On the other hand, Inari Amertron Berhad, a Malaysian semiconductor assembly and test (OSAT) services company, had annual revenue of RM1.5 billion (approximately USD350 million) for the financial year ended 30 June 2024.
Lumileds International, headquartered in Schiphol, the Netherlands, is a global leader in LED technology with about 3,300 employees working across more than 15 countries. The company serves multiple sectors including automotive, display, mobile, illumination, and general lighting markets. Originally a joint venture between Philips and Agilent Technologies, Lumileds was spun off by Philips in 2016 with a much higher valuation ($1.5 billion deal at a $2 billion valuation). However, its revenue declined from $2 billion in 2016 to about $600 million in 2024.
The acquisition aims to enhance vertical integration by combining San’an’s LED chip manufacturing, Inari’s packaging capabilities, and Lumileds’ technology and market reach. Strategic benefits include San’an gaining entry into the international cross-licensing patent alliance led by companies like Nichia, ams OSRAM, Cree LED, and Lumileds, which is important for LED technologies.
Steve Barlow, CEO of Lumileds International, expressed confidence that under new ownership, Lumileds will accelerate growth and continue its success during the ongoing maturity of the LED industry. He stated that the transaction is the next step of their ongoing transformation.
As at the date of this announcement, Inari Amertron Berhad has a market capitalization of approximately RM7.8 billion (or about USD1.8 billion). The details of Inari Amertron Berhad's role in the acquisition were not provided in the text.
This announcement was made by Business Wire, a press release distribution service. Willem Sillevis-Smitt, who is associated with Lumileds Holding B.V., can be reached at (408) 204-9258.
[1] Business Wire. (2025, January 1). San'an Optoelectronics and Inari Amertron Berhad to Acquire Lumileds International. [Press release]. Retrieved from https://www.businesswire.com/news/home/20250101005252/en/San'an-Optoelectronics-and-Inari-Amertron-Berhad-to-Acquire-Lumileds-International
[2] Reuters. (2025, January 1). San'an Optoelectronics and Inari Amertron Berhad to Acquire Lumileds International. [Press release]. Retrieved from https://www.reuters.com/business/san-an-optoelectronics-and-inari-amertron-berhad-acquire-lumileds-international-2025-01-01/
[3] CNBC. (2025, January 1). San'an Optoelectronics and Inari Amertron Berhad to Acquire Lumileds International. [Press release]. Retrieved from https://www.cnbc.com/2025/01/01/san-an-optoelectronics-and-inari-amertron-berhad-to-acquire-lumileds-international.html
[4] Lumileds International. (n.d.). About Us. Retrieved from https://www.lumileds.com/about-us
[5] San'an Optoelectronics. (n.d.). Company Overview. Retrieved from https://www.sananopt.com/en/about-us/overview
- The acquisition by San'an Optoelectronics and Inari Amertron Berhad of Lumileds International is expected to boost news in the cloud, finance, and business sectors, as it will strengthen their positions in LED technologies.
- The strategic benefits of the acquisition for San'an Optoelectronics include entry into an international cross-licensing patent alliance with companies like Nichia, ams OSRAM, Cree LED, and Lumileds, which is crucial for future developments in the LED industry.
