Austin-based smart farming company Fluence Bioengineering is being acquired by German lighting manufacturer OSRAM, the two companies announced this week.
The purchase price was not disclosed, and it is not clear when the sale will close.
With the acquisition, OSRAM will add about 95 employees.
Chief Technology Officer Stefan Kampmann said the buyout will also help OSRAM expand its capabilities within the horticulture market, or farming that uses intelligent lighting, sensors and smart software.
“Fluence is opening the floodgates to a huge future market,” Kampmann said in a written statement. “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.”
Proponents of horticultural farming say it reduces the need for pesticides, fertilizers, excessive water and is an ideal way to grow medicinal plants while creating sustainable agriculture.
Founded in 2013, Fluence is known as a horticulture market expert and has used OSRAM LED chips to power systems such as vertical farming.
OSRAM, which has a U.S. office based in Massachusetts, employs about 26,400 worldwide, and its products have been used in industries ranging from virtual reality to autonomous cars.
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