Luminus Devices Inc., Billerica, Mass.-based developer and manufacturer of high output LED light sources, announced last week that it has signed a merger agreement with Lightera Corp., Sunnyvale, Calif., a U.S.-based developer of LED components that is a wholly owned U.S. affiliate of Sanan Optoelectronics, Ltd., Xiamen, China, a specialist in LED epitaxial wafers.
Luminus will operate as an independent business unit and subsidiary of Lightera, the company said in a release announcing the merger. The merger will give Luminus added and expanded capabilities, including enhanced financial backing and access to a global research and development team focused on enabling the lighting world with LED technology.
“Luminus has been searching for the right partner that would add to our extensive intellectual property, allow for expansion of our global operations and would be additive to our market-leading position in many segments of the worldwide specialty lighting market,” said Keith Ward, president and CEO of Luminus Devices. “This relationship with Lightera and Sanan will allow us to expand our capabilities through new access to technical and financial resources well beyond our current position.”
Luminus said it will continue to focus on specialty markets and applications for its current and expanding product lines and customer portfolios. Luminus gains access to an advanced R&D operation in California as well as the overall technical strength of Sanan’s corporate R&D Technical Center.
The move provides Luminus with a large footprint for global expansion in specialty markets like projection display, medical, transportation, ultraviolet and general lighting markets and applications.
“As a leader in the specialty lighting market, Luminus Devices provides us with proven, state-of-the-art technology that will allow Lightera to expand both our U.S. and international offerings,” said Decai Sun, chairman and CEO of Lightera. “We expect Luminus to continue to focus on new technology, specialty lighting markets, applications and superior customer service.”