On October 4, 2016, Osram, the world's leading lighting and technology company, successfully completed the acquisition of Novità Technologies. Novità Technologies is a well-known manufacturer of automotive LED modules in the United States. Its products are mainly used as taillights, fog lights and daytime running lights. Through this acquisition, OSRAM will further expand its position in the US automotive LED market.
Hans-Joachim Schwabe, CEO of OSRAM Special Lighting, said, “The perfect ending of the transaction is an important development in our strategic decision-making, which strengthens our leading position in the field of automotive lighting and enriches the portfolio of LED modules in our automotive projects. ."
Through the acquisition of Novità Technologies, OSRAM will further advance its technology and innovation strategy. It is estimated that by 2020, the global LED car headlight module market will grow at a rate of 20% per year. Novità Technologies has a very important position in this field, especially in the US market. This advantage will help Osram's business in the local market, adding to the portfolio of LED modules in our automotive and systems businesses. Novità Technologies will be integrated into OSRAM's specialty lighting business, which includes the company's automotive lighting and professional and industrial applications markets.
“NovitaTechnologies has been in the automotive LED market for several years. We firmly believe that this acquisition will bring us more tools, resources and help, and let us re-emerge. We look forward to working closely with our new colleagues in Osram.â€
NovitaTechnologies current CEO Mike Incorvaia said. Mike Incorvaia will also continue to serve as CEO of the company.
NovitaTechnologies was founded in 2007 as an asset management acquisition company. In the past three years, the company has developed rapidly and successfully, and has accumulated rich experience in high-end engineering and production, especially the LED module business.
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