Luminus Devices Inc of Billerica, MA, USA, which makes PhlatLight (photonic lattice) LEDs for solid-state lighting applications, has agreed to merge with Lightera Corp of Sunnyvale, CA, a US affiliate of LED maker Sanan Optoelectronics Co Ltd of Xiamen, China that designs and develops LED components and system products for lighting applications.
Luminus was founded in 2002 on the basis of research at Massachusetts Institute of Technology. The firm subsequently raised more than $150m in venture capital from Argonaut Private Equity, Braemar Energy Ventures, Paladin Capital Group, Stata Venture Partners, CMEA Ventures, Battery Ventures, DFJ, DFJNE, and Eastward Capital. Luminus focused initially on projection displays before shifting toward general illumination and high-brightness applications such as street lighting. The firm's LEDs are now used for general lighting, projection display, entertainment, ultraviolet curing, life sciences, medical, portable, transportation and digital signage lighting applications. Annual revenue in 2012 was $17m.
Founded in 2000, publicly traded San'an produces LED epiwafers and chips, as well as compound semiconductor solar cells, solar products, and sapphire substrates. With expertise in LED epitaxial materials, chip/package design and lighting systems, the aim of Sanan's subsidiary Lightera is to develop lighting technologies and products to accelerate the adoption of energy-efficient and smart LED lighting.
Luminus will now operate as an independent business unit and subsidiary of Lightera. The firm says that its business will have expanded capability, financial backing and access to San'an's operations, coupled with a global R&D team focused on enabling lighting with LED technology. Luminus will continue to focus on specialty markets and applications for its expanding product and customer portfolios.
Luminus says that it gains access to an R&D operation in California as well as the overall technical capabilities of Sanan's Corporate R&D Technical Center, providing access to added global R&D operations in the USA and a large footprint for global expansion in specialty markets such as projection display, medical, transportation, ultraviolet and general lighting markets and applications.
"Luminus has been searching for the right partner that would add to our extensive intellectual property, allow for expansion of our global operations, and would be additive to our market-leading position in many segments of the worldwide specialty lighting market," says Luminus' president & CEO Keith T.S. Ward. "This relationship with Lightera and Sanan will allow us to expand our capabilities through new access to technical and financial resources well beyond our current position," he adds.
"As a leader in the specialty lighting market, Luminus Devices provides us with proven, state-of-the-art technology that will allow Lightera to expand both our US and international offerings," says Lightera's chairman & CEO Dr Decai Sun. "We expect Luminus to continue to focus on new technology, specialty lighting markets, applications and superior customer service."
