India, Aug. 5 -- San'an Optoelectronics and Lumileds announced on August 1st that San'an, along with foreign investors, will acquire 100% of Lumileds Holding for US$239 million in cash.

TrendForce's LED industry demand and supply database notes that Lumileds ranks among the world's top seven LED packaging companies. The acquisition will help San'an gain entry into the international cross-licensing patent alliance led by Nichia, ams OSRAM, Cree LED, Lumileds, and Toyoda Gosei, while also leveraging Lumileds' two-decade legacy in the global market.

While the deal is still subject to shareholder approval and regulatory reviews in various jurisdictions, completion under the current terms would see San'an indirectly own 74.5% of Lumileds by ...