Near the tree will be rich? Jinsha River on the edge of the acquisition of Lumileds

"Stupid people, more money, faster"?

Yesterday (31 days), lonely LED lighting industry for a period of time, finally threw a heavy news industry is destined to become a staple of the moment at leisure.

What happened is the day before, led by the Jinsha River GOScaleCapital, Asia Pacific Resources Development Investment Co., Ltd. and Nanchang Industrial Holdings Limited and other domestic and foreign financial backing buyout Fund announced the successful acquisition of shares of Lumileds80.1% of the Royal Holland PHILPS company, PHILPS company will retain 19.9% of the remaining 34% branches (including in the United States equity shares).

It is understood that PHILPS LumiLEDs currently includes LED and automotive lighting division. The deal is worth about $3 billion 300 million. Is expected to be completed in the third quarter of 2015 after obtaining regulatory approval and other trading conditions.

3 billion 300 million U.S. dollars astronomical - this single may be the largest ever LED acquisition of the acquisition of the transaction, was immediately described as an industry insider described as money, people stupid, fast". You know, last August audio acquisition of Beijing Shenan group 100% stake, the final price is only 1 billion 590 million yuan. Today, compared to the latter, at best, can only be reduced to half price".

Statistics show that in August 2005, Royal Dutch Philips Electronics Ltd to $950 million acquisition of the United States, the United States and the light of the company's Lumileds shares of 47%. Between ten years, the number of 950 million, ignoring inflation, excluding self earned income, or about 3.47 times the price rise of about $3 billion 300 million. However, in the eyes of many people, but this year, PHILPS fat himself, "made a very cost-effective transaction", because it is just a piece of chicken to sell this (unreasonable) price".

At least the surface, PHILPS is no net pay, probably not what objection. So, another question is now: PHILPS Lumileds is not a piece of Jinsha River has now joined the luxury package, Colonel chicken ribs?

The trip is to "patent"?

According to reports, after the transaction, the new company will retain the original name Lumileds. The new company will be in charge of the current CEO of Lumileds LED Pierre-YvesLesaicherre. PHILPS will remain an important customer of Lumileds and will continue to maintain a partnership with Lumileds in research and development and supply. Then the focus came, the deal also includes PHILPS's transfer of more than 600 patents related to LED production and automotive lighting to Lumileds.

Relevant sources pointed out that PHILPS had acquired Lumileds, half of the reason is because the patent. Now it is a spin off of Jinsha River venture capital acquisition, come and go without him, nothing more than the estimated value of Jinsha River's patent.

In the past, had never patented two words to stay in mind, do not ogle the Chinese enterprises in recent years, finally from time to time by a "337 investigation" to stimulate the small heart. February 12, 2015, the United States International Trade Commission (ITC) officially launched a new round of "337 investigation", it is to face, this time the defendant has a number of four parties related to china. Undoubtedly, seen patent power, especially had patent loss China enterprises are awakening to a rainy day, ahead of the layout, team work, the importance of external baotuan.

People with patent alliance said that the PHILPS 600 patent transfer, although still not sure what's the specific technology, but on the China enterprise so generous, absolutely not because of their "proper", but because of each other between the strength of the poor, to the point of sweetness, let a pit, to them it is not a threat.

PHILPS is not afraid of the transfer of patented technology, of course, in their eyes, maybe just a piece of "chicken ribs", however, in the Chinese situation is not the same, because the current China now is in long-term and market follower stage application technology now, if no accident will still be the mainstream technology in the next few years so, buy back will also be useful.

So, this acquisition, whether it will promote the patent sharing Lumileds and Chinese companies, it is reported that, at present, LED upstream core patent technology has long been mastered by the five international giants. Five large manufacturers to form a monopoly formed by cross licensing, patent pressure on domestic LED vendors, such as the successful acquisition of PHILPS, or to open a LED company to break the foreign monopoly China new road, is expected to release and the integration of the domestic LED production capacity out of the country, the international market docking. And Lumileds signed a patent cross licensing agreement international oligarchs, such as OSRAM, CREE, and so on China Nichia, the patent threat or will greatly weaken or even disappear.

However, according to industry practice, due to the transfer of patent rights, including a variety of transfer, it takes a long time, not today's acquisition will be able to use tomorrow. Plus Lumileds over the number of times, if really to use, trouble will not be less. Perhaps this is one of the reasons why CREE recently launched a 337 investigation. "

The patent alliance, in the field of LED, similar to the epoch-making invention of Nakamura Shuji, in fact, are in local innovation. According to the situation of the industry this year, the possibility of a new cutting-edge technology, but the specific role should be a few years later. At the same time, she also cautioned that the need to pay attention to the new technology, if we can replace the existing LED technology developed new technologies, and we are not prepared, will face another round of different technology patent issues. "

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