April 08, 2013 04:00 AM Eastern Daylight Time
Singapore-Based Luma & California’s Luxim Merge to Create International High Power, Energy-Efficient Lighting Industry Leader
SINGAPORE--Luma Investments Limited, a Singapore holding company, and Luxim Corporation of Sunnyvale, California, the leader in light emitting plasma (LEP) products and solutions, today announced a definitive merger agreement, creating a lighting industry leader in high power, energy-efficient lighting solutions.
“The merger combines two companies with strong technologies in high output, energy efficient, long life lighting, both with excellent management teams,” said Gareth Chang, Luma Chairman. “The combination of Luxim with Luma’s JK Yaming unit will drive substantial commercial and operating synergies.”
Luxim is the world leader in LEP lighting with more than 30,000 units in the field and over two million hours of successful operation. With light intensity 200 times that of conventional LED, excellent color quality and a rated life of 50,000 hours, Luxim’s LEP technology excels in demanding applications requiring high output, precise optical control, long life and excellent color.
“We are very excited to join the Luma family,” said Luxim Chief Executive Officer Tony McGettigan. “The merger brings scale and global reach to our LEP products. The new organization will help us better serve our existing customers and accelerate the adoption of LEP in mission critical applications worldwide.”
“The combination of LEP and induction lighting offers unique solutions to lighting customers with demanding applications,” said Luma CEO Jim Gosart. “Our technologies are strongest where traditional and LED lighting may not fully address customer needs. Lighting customers worldwide will benefit from this exciting merger.”
About Luma and JK Yaming
JK Yaming (JK) is a global leader in high power, energy-efficient total lighting solutions, with market leading R&D, production, and distribution capabilities in both traditional and energy-saving induction lighting products. JK’s lighting solutions are found throughout the world. Through its investment vehicle Luma, an international consortium of investors, led by Citi Venture Capital International and Novo Tellus Capital Partners invested into JK in a multi-million dollar transaction and privatized it off the Singapore Exchange in 2011.
About Luxim Corporation
Luxim Corp. is the world leader in Light Emitting Plasma (LEP) technology. Headquartered in Silicon Valley, California, Luxim develops and commercializes LEP solutions for a wide range of mission critical applications. Luxim’s LEP has many advantages over conventional HID and high wattage lamp solutions, including efficiency, lifetime, cost of ownership and light quality. LEP is revolutionizing lighting applications like high mast, horticulture and precision instrumentation. In each case, Luxim’s solutions provide better performance at lower cost to the end user and to the environment. Luxim is in production with customers worldwide and has a complete product line for general, horticutural and specialty lighting.
Luma Investments, Ltd.