OSRAM completed the acquisition of Novit, Technologies successfully entered the American car market LED

In October 4, 2016, the world's leading technology companies, OSRAM lighting and the successful completion of Novit's acquisition of Technologies. Novit Technologies is a famous American car manufacturer LED module, its products are mainly used as the taillights, fog lights and daytime running lights. Through the acquisition, OSRAM will further expand its position in the U.S. automotive LED market.

"The perfect end of the transaction is an important step in our strategic decision, both to consolidate our leading position in the field of automotive lighting, but also enrich the LED module of our automotive product portfolio. "

OSRAM special lighting CEOHans-Joachim Schwabe

Through the acquisition of Novit, Technologies, OSRAM will further advance its technology and innovation strategy. It is estimated that by 2020, the global LED automotive taillight module market will grow at an annual rate of 20%. Novit, Technologies plays a very important role in this field, especially in the American market. This advantage will add fuel to OSRAM's business in the local market, as we build the LED module in the automotive project and system business. Novit, Technologies will be merged into OSRAM special lighting business, this business includes the company's automotive lighting and professional and industrial application market.

"Novit Technologies has been in the automotive LED market leader for several years. We firmly believe that this acquisition will bring us more tools, resources and help, let us re brilliant. We look forward to working closely with OSRAM's new colleagues. "

Novit, Technologies CEO Mike Incorvaia said the current. Mike Incorvaia will also continue to serve as the company's CEO post.

Novit Technologies, founded in 2007, was an asset management acquiring company. Over the past three years, the company has developed rapidly and successfully, and has accumulated a wealth of experience in the field of high-end engineering and production, especially the LED module business.

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