Osram Acquires Rest of Traxon

that OSRAM acquired the remaining shares of Traxon Technologies from its joint venture partner as of November 9.

OSRAM says this is the next step towards becoming one of the leading suppliers of LED lighting solutions and it also strengthens the company's global position in the professional LED lighting market.

Traxon Technologies -- headquartered in Hong Kong and in Paderborn, Germany -- markets its LED solutions under the brand names of Traxon and e:cue. Their products have been used in 4,000 installations and projects around the world, including Worldwide Plaza in New York and the "Christ the Redeemer" statue on Sugar Loaf Mountain in Rio de Janeiro.

In a statement, OSRAM said, "By means of this acquisition OSRAM is supporting its strategy to systematically expand its professional LED and lighting solutions business, both technologically and regionally. Traxon operates on a global scale in the key markets of Asia, Latin America, Europe, Middle East and North America and thereby adds to OSRAM's regional presence. Our customers benefit from new application fields and comprehensive LED lighting systems and solutions portfolio."

In 2009, OSRAM obtained a majority holding of 51 percent in Traxon, which has since been operating as a joint venture under the name of "Traxon Technologies - An OSRAM Company."

Traxon will keep its legal form as Traxon Technologies Ltd. and remain part of the OSRAM business segment Professional Lighting Solutions. Traxon as a strong brand within the LED lighting solutions business will remain unchanged, same as e:cue as the leading lighting control brand. Traxon Technologies' headquarters will remain in Hong Kong and in Paderborn, Germany.