Osram Finalizes Acquisition of Novità Technologies - Energy Watch News

Osram Finalizes Acquisition of Novità Technologies

Effective Oct. 4, 2016, Osram 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 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. http://www.ledinside.com/

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