Photonics GmbH has been taken over by Trumpf
Photonics GmbH, the laser diode division of Phillips, previously called Phillips Photonics, has been acquired by Trumpf. Photonics produces laser diodes that are used in smartphones, digital data transmissions and in sensors for autonomous driving.
Joseph Pankert, Philips Photonics Business Leader said: “More than half a billion cell phones worldwide are equipped with laser diode technology from Philips Photonics."
The German-based Trumpf wants to use this acquisition to expand its product portfolio in this new market segment. The company has invested almost €340 million in the R&D program and this new asset is expected to strengthen it.
Lars Grünert, member of the Group Management Board, responsible for the new TRUMPF product field and Chief Financial Officer, said: "Philips Photonics employs a large number of very good developers who have opened up new areas of photonics and who will strengthen our research and development area in the long term. Together we want to further develop the Photonics division."
Photonics is also headquartered in Germany, where the laser diodes are manufactured in a high-tech facility.
Both companies have agreed not to disclose the purchase price. The transaction is expected to be completed in the second quarter of 2019 upon authority approval.