[Text|Xu Chaopeng] The US chip giant, BridgeLux, has announced that it has been led by the investment group of China Electronic Information Industry Group Corporation (CEC) and Chongqing Linkong Development and Investment Corporation.
Founded in 1989, CEC controls 61 second-tier companies, including 13 listed companies. With more than 70,000 employees, CEC is one of the largest IT companies in China with manufacturing facilities in Beijing, Shanghai, Wuhan, Shenzhen, Nanjing, Changsha and Xiamen. The financial terms of the agreement have not been disclosed.
On July 28, Shenzhen Great Wall Development Technology (referred to as Shenzhen Technology) announced the latest announcement on the Shenzhen Stock Exchange: Development of the crystal company Puhuarui to acquire 100% of BridgeLux's company for US$130 million.
According to the data, the development of Jingguang Lighting (Xiamen) was established in 2011 and was jointly established by China Electronics Information Group (CEC) core member companies: Shenzhen Great Wall Development Technology Co., Ltd. (China) and Jingyuan Optoelectronics Co., Ltd. (Taiwan). .
BridgeLux, a US-based company that develops and manufactures LED chips, packages and optical modules. Currently, it has more than 750 technical patents on LED chips and packaging, and is cross-licensed with CREE patents. Its products can be sold without patent risk on a global scale. Its high-power, high-brightness LED packaging technology is in line with Cree (USA), Philips (Europe), and Citizen (Japan). It has established a global sales relationship with more than 200 customers worldwide.
In this regard, Liu Lihong, general manager of CEC, said: “Puri’s progress over the past 13 years has been helping to promote energy-efficient LED technology around the world. Puri has all the investment features we expect, including leading technology and extensive The combination of intellectual property and globally renowned brands and channels is an important step in coordinating the supply chain towards further adjusting the CEC and partner assets to serve the unique needs of the solid-state lighting market."
“We are convinced that CEC is a perfect partner to help Puri grow to a new level. With our existing partnerships with CEC affiliates, CEC's strong supply chain, world-class manufacturing, chips, packaging And the ability to enter the market will help Puri expand its technology business footprint and attract more customers around the world,†said Brad Bullington, CEO of Purui Optoelectronics.
It is reported that after the completion of the acquisition, Preh will continue to be an independent company and report to CEC through the US subsidiary. In addition, Purui will spin off its smart lighting business as a new independent company, Xenio. Bridgelux and Xenio will be led by the current Puri management team. Xenio will focus on the design and manufacture of LED modules with the goal of capturing the emerging $135 billion IoT lighting market.
The acquisition is expected to be completed within the next six to eight weeks, subject to regulatory approval.
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