San'an buys US lighting firm for $22m

San'an Optoelectronics Co Ltd, an LED (light emitting diodes) manufacturer in southeast China, has purchased 100 percent of the equities of Luminus Devices Inc in the United States for $22 million through its wholly-owned subsidiary Lightera Corp, according to an announcement by San'an on Tuesday.

Delaware-based Luminus Devices develops and manufactures lighting devices with high illumination intensity, including white, colored and ultra violet LED for street lamps, vehicles, entertainment venues, hospitals and water treatment facilities.

Luminus, with total assets of $11.9 million, serves clients such as LG in South Korea, Acer in Taiwan, Zumtobl in Austria and Philips in the Netherlands. It registered $17.2 million in its operating income and $3.2 million in net profits in 2012.