A Chinese maker of light-emitting diodes has purchased Luminus Devices Inc., a Billerica lighting technology firm, according to the local company.
San’an Optoelectronics Co. Ltd, will pay $22 million for the Billerica company, a Luminus spokesman said. Luminus will become subsidiary of San’an’s US affiliate, Lightera Corp. of Sunnyvale, Calif.
In a statement released by the Luminus, chief executive Keith T.S. Ward said Lightera and San’an are “the right partner” for Luminus to work with to expand.
“This relationship with Lightera and San’an will allow us to expand our capabilities through new access to technical and financial resources well beyond our current position,” Ward said.
Founded in 2002 by an MIT scientist, Luminus makes lighting components used in a variety of ways, including to light concert venues and street lamps. Since its founding, the company has raised tens of millions in venture capital, and received a $2.5 million low-interest loan from MassDevelopment when it was looking to open a manufacturing plant in Billerica in 2007.
In 2010, the company had about 130 employees at its Billerica headquarters and a factory in Woburn.Erin Ailworth can be reached at firstname.lastname@example.org. Follow her on Twitter @ailworth.