Osram Acquires Texas-Based Fluence Bioengineering

WILMINGTON, Mass. MUNICH–PRESS RELEASE–Osram is taking the next step in its quest to become the leading provider of intelligent plant growth solutions by acquiring Fluence Bioengineering, Inc. of Austin, Texas. Fluence was founded in 2013, has approximately 95 employees and its 2017 sales were in the mid-double-digit millions of dollars (USD). The company specializes in LED-based horticultural systems, using Osram LED chips, for a wide variety of applications including vertical farming, especially in urban areas. Potential crops range from salad greens and herbs to medicinal plants. Osram and Fluence have agreed not to disclose the purchase price.

“Fluence is opening the floodgates to a huge future market,” said Stefan Kampmann, CTO of OSRAM Licht AG. “Its extensive knowledge of the horticulture market and possible applications, combined with Osram’s expertise in lighting technologies, sensors and connectivity, will position us as a leading horticultural solutions provider.” Associated smart farming

... read more at: http://www.cannabisbusinesstimes.com/osram-acquires-fluence-bioengineering.aspx