ATLANTA, Ga. — MLS of Zhongshan, China, along with co-investors IDG Capital and Yiwu, completed the acquisition of Ledvance from Munich-based Osram Licht AG on March 1, 2017. The purchase price was approximately $440 million, and includes rights to the Sylvania brand in North America. MLS is the parent company of Forest Lighting.
Jian Ni, COO of Forest Lighting in North America commented, “We are pleased that MLS and the partners have completed this exciting global deal. As a wholly-owned subsidiary of MLS, we welcome Ledvance to the MLS family and look forward to cooperating with them as strategic opportunities present themselves. The Sylvania brand has a rich history in the US, and the exciting new Forest Lighting brand is experiencing rapid growth. Our product offerings are complementary for the most part, and customers will benefit as these two technology leaders bring new products to market at an even faster rate.”
“We are really looking forward to working together with our colleagues at Ledvance… in order to strengthen our position as leaders in the global lighting market,” added Sun Qinghuan, Chairman of MLS.
tEDmag.com originally posted the news about the completed sale on March 3, with the original expected sale price expected to be around $612 million.
Tagged with Forest Lighting, LEDVANCE, Osram, tED