With the recent announcement by Sumitomo Chemical to complete the acquisition of Cambridge Display Co., Ltd. (CDT), “Enterprise M&A†has once again entered the people's attention and has become a hot spot in the semiconductor lighting industry. In fact, since the second half of 2006, corporate mergers and acquisitions have occurred frequently. Whether it is the merger of Jingyuan, Yuanfang and Lianyong, or Cree's acquisition of Huagang, every merger is undoubtedly a shocking event in this industry. These mergers, or horizontal or vertical, or strong alliance or group of enemies, coupled with the joining of affiliated companies, presented a new wave of industrial mergers and acquisitions.
European and American giant industry chain vertically integrated, highlighting competitive advantage
1. Traditional lighting giants intervene, Liwei lighting industry leadership
With the growing prospects of LED technology, traditional lighting giants have also stepped in. For example, among the world's top five LED manufacturers, except for Cree and Nichia, Lumileds, Osram OS, Toyoda Gosei They are affiliated with Philips, Osram and Toyota. These large groups are not satisfied with the current situation. They continue to explore emerging companies to be in control, with a view to improving the industry composition and occupying the commanding heights of the lighting market for a long time. At this point, Philips's move is undoubtedly the most.
Following the acquisition of 47% of Lumileds' shares held by Agilent in December 2006, Philips acquired a 3.5% stake in Lumileds held by its employees for 8 million euros, achieving full control of Lumileds. Just six months later, in June 2007, Philips added Canadian white LED manufacturer TIR Systems to the company for $71 million. At the end of August, it completed the US LED lighting system integrator COLOR KINETICS (CK) for about $791 million. The acquisition of the company. Lumileds manufactures LED chips and power packages. TIR has the Lexel platform (Lexel is the main component of white LED light sources, including heat dissipation, optical design, feedback and drive technology, etc.), while CK is in the world of LED lighting color control devices and systems. Forefront. This series of acquisitions has been connected in the middle and lower reaches of the lighting industry chain, enriching Philips' patent portfolio and increasing the brand effect, which has earned Philips a strong competitive advantage.
Philips estimates that the LED market will grow by an average of more than 20% a year and is expected to reach $20 billion to $30 billion by 2025. In the short term, these acquisitions are the strategic actions of Philips to consolidate the integrated semiconductor lighting product line, complete the global LED lighting market layout, and ensure its position in the high-power LED field. In the long run, Philips's move is not only to consolidate its roots in the LED lighting industry, but also to be a comprehensive strategic deployment of how the entire lighting industry has long occupied the advantages of technology and resources.
General Electric, which is one of the world's three largest lighting giants, along with Philips and Osram, is also involved in the LED industry. GE's Lumination can produce filial and high-power LED Products, but high-power products are still relatively immature. If you want to occupy the lighting market share for a long time, GE will have to expand the LED product portfolio. After Philips announced the completion of its acquisition of CK, GE's rumors of acquiring Cree to strengthen its competition with Philips surfaced. Although there is no evidence to prove it, we have reason to believe that GE will act in the face of the positive actions of the other two giants.
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