ams OSRAM announced today that it has entered into a definitive agreement to sell its Fluence horticulture lighting systems business and brand to Signify for an agreed purchase price of USD 272 Million on a debt free / cash free basis.

"This transaction represents a further significant step in the execution of our strategy to focus and re-align its business portfolio on its core technology areas in illumination, visualization and sensing, which continues to include advanced LED solutions for horticulture lighting," ams OSRAM says. "We will continue to be a strategic LED supplier to the combined business for horticultural applications." 

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