The high-tech company TRUMPF is acquiring 100 percent of Photonics GmbH from Philips, headquartered in Ulm, Germany. This opens up a new market segment for TRUMPF in addition to its existing business with high-power diode lasers and expands its product portfolio. Laser diodes from Philips Photonics are used, for example, in smartphones, in digital data transmission, and in sensors for autonomous driving. Photonics GmbH employs around 280 people.
Through the acquisition, TRUMPF will expand its access to fast-growing markets in the photonics and digital products sectors.
Both companies have agreed not to disclose the purchase price. The transaction is expected to be completed in the second quarter of 2019. The authorities still have to approve the acquisition.