Light manufacturer Osram Licht AG has sold Ledvance GmbH, a developer of light products, to a Chinese consortium consisting of IDG Capital, MLS Co. Ltd. and financial investor Yiwu State-Owned Assets Operation Center. With the sale, Osram aims to implement its three-pillar strategy focused on specialty lighting, lighting solutions and opto-semiconductors. Ledvance develops both traditional light sources and modern LED lamps, standardized luminaires and intelligent, networked solutions for the home. In connection with the transaction, Osram and MLS have also signed a letter of intent under which MLS may purchase LED chips from the new Osram plant in Kulim, Malaysia. Osram provides lighting solutions for diverse applications ranging from virtual reality, autonomous driving and mobile phones to smart lighting for buildings and cities.