OSRAM acquired novit à technologies and successfully entered the automotive LED market in the United States
Shenzhen HongYu Semiconductor Co., Ltd. / 2021-08-30 09:18:10
OSRAM, the world's leading lighting and technology company, successfully completed the acquisition of novit à technologies. Novit à technologies is a well-known automotive LED module manufacturer in the United States. Its products are mainly suitable for tail lights, fog lights and daytime running lights. Through this acquisition, OSRAM will further expand its position in the U.S. automotive LED market.
"the perfect conclusion of the transaction is an important progress in our strategic decision-making, which not only consolidated our leading position in the field of automotive lighting, but also enriched the product portfolio of LED modules in our automotive projects."
by acquiring novit à technologies, OSRAM will further promote its own technology and innovation strategy. It is estimated that by 2020, the global LED automobile head and tail lamp module market will grow at an annual rate of 20%. Novit à technologies plays a very important role in this field, especially in the U.S. market. This advantage will fuel OSRAM's business in the local market and contribute to our LED module product portfolio in automotive projects and system business. Novit à technologies will be merged into OSRAM's special lighting business, which includes the company's automotive lighting and professional and industrial application markets.
"Novit à technologies has led the automotive LED market for several years. We firmly believe that this acquisition will bring us more tools, resources and help to create brilliance again. We look forward to working closely with OSRAM's new colleagues. "
said Mike incorvaia, current CEO of novit à technologies. Mike incorvaia will also continue to serve as CEO of the company.
novit à technologies was established in 2007 as an asset management acquisition company. In the past three years, the company has developed rapidly and risen successfully, and has accumulated rich experience in high-end engineering and production, especially in LED module business.