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OSRAM Completes Acquisition of Novità Technologies

A U.S. Manufacturer of Automotive LED Modules.

10.05.2016 | Corporate

​Wilmington, MA and Hendersonville, TN – Effective Oct. 4, 2016, Osram, a leading global lighting and technology company, has successfully completed the acquisition of Novità Technologies, a U.S. manufacturer of automotive LED modules which are used primarily in tail lights, fog lights and daytime running lights. With this move, Osram will further expand its position in the U.S. automotive LED market. “The successful closing of this transaction is a further step in our strategy to strengthen our leading position in automotive lighting and to expand our LED automotive portfolio for project business,” said Hans-Joachim Schwabe, CEO of the Specialty Lighting business unit.

With the acquisition of Novità Technologies, which will be part of the original equipment manufacturing solid state lighting segment within Specialty Lighting, Osram is pushing forward its strategy of technology and innovation. The global market for LED modules for front and rear lights is forecast to increase by an average of 20 percent per year by 2020. Novità Technologies is very well positioned in this sector, particularly in the U.S., and is therefore an excellent addition to Osram in terms of both the regional market and the LED automotive portfolio for project and system business. Novità Technologies will be part of Osram’s Specialty Lighting business, which comprises the company’s automotive lighting as well as professional and industrial application activities.

“Novita Technologies has been a leader in the automotive LED market for several years,” said Mike Incorvaia, who has been appointed and will continue as CEO of Novità Technologies. “We are confident that this move will provide us with the additional tools, resources and support we need to build on that success and we look forward to working closely with our new colleagues at Osram.”

Novità Technologies, which was founded in 2007 as an asset management buyout, has recorded rapid and successful growth in the last three years and has a high level of engineering and manufacturing experience, specifically in the LED module business.

Press Contact

Ellen Slingsby
Phone: 978-854-7794
E-mail: e.slingsby@osram.com

About OSRAM SYLVANIA

OSRAM SYLVANIA is part of OSRAM Americas, a group of OSRAM companies located in North and South America. As a leader in lighting solutions and services specializing in innovative design and energy-saving technology, the company sells products under the brand names OSRAM, Traxon, ENCELIUM and SYLVANIA. The portfolio ranges from high-tech applications based on semiconductor technology, such as infrared or laser lighting, to smart and connected lighting solutions in buildings and cities. The OSRAM SYLVANIA and OSRAM Americas regional headquarters is located in Wilmington, Massachusetts. For more information, follow us on Facebook and Twitter.

About OSRAM

OSRAM, based in Munich, is a global leading lighting manufacturer with a history dating back more than 100 years. The portfolio ranges from high-tech applications based on semiconductor technology, such as infrared or laser lighting, to smart and connected lighting solutions in buildings and cities. OSRAM had around 33,000 employees worldwide at the end of fiscal 2015 (September 30) and generated revenue of almost €5.6 billion in that fiscal year. The company is listed on the stock exchanges in Frankfurt and Munich (ISIN: DE000LED4000; WKN: LED 400; trading symbol: OSR). Additional information can be found at www.osram.com.

OSRAM is a registered trademark of OSRAM GmbH.

Disclaimer

This document contains statements and information pertaining to our future business and financial performance and future developments that may constitute forward-looking statements – i.e. statements about processes that take place in the future, not in the past. These statements pertaining to the future can be identified by expressions such as "anticipate", "expect", "want", "intend", "plan", "believe", "aspire", "estimate", "will”, "predict" or words of similar meaning. Such statements are based on current expectations and certain assumptions of OSRAM‟s management. They are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond OSRAM‟s control, affect OSRAM‟s operations, performance, business strategy and results and could cause the actual results, performance or achievements of OSRAM to be material different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or anticipated on the basis of historic trends. These factors include in particular, but are not limited to the matters described in the chapter “Report on Risks and Opportunities” in the Annual Report of OSRAM Licht Group. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of OSRAM may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. OSRAM neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures they reference.