Trumpf has set out to acquire 100 percent of Photonics GmbH from Philips. 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. Furthermore, through this acquisition, Trumpf can expand its access to fast-growing markets in the photonics and digital products sectors.
“With this acquisition, we want to open up new product fields and expand our existing portfolio at a strategically important point,” said Nicola Leibinger-Kammüller, President and Chairwoman of Trumpf. While Lars Grünert, member of the Group Management Board, responsible for the new Trumpf product field and Chief Financial Officer, added that, “Philips Photonics employs a large number of very good developers who have opened up new areas of photonics and who will strengthen our research and development area in the long term. Together we want to further develop the Photonics division.”
In the past fiscal year 2017/18, Trumpf has invested almost 340 million euros in research and development. This corresponds to a development ratio of 9.5 percent.
Regarding the impending acquisition, Joseph Pankert, Business Leader of Philips Photonics has stated that, “[Photonicsis ] very excited to become part of Trumpf. This will ensure that the division can continue to grow in a highly innovative company in the future.”
Currently, both companies have agreed not to disclose the purchase price and the transaction is expected to be completed in the second quarter of 2019 as the authorities still have to approve the acquisition.