SEOUL, South Korea--GE Licensing (“GEL”), Current Lighting Solutions, LLC (“Current”), Savant Systems Inc. and Seoul Semiconductor Co., Ltd. (“SSC”) today announced that they have entered into a patent license whereby SSC acquired a license to a PFS (also known as KSF) patent portfolio for all application fields widely licensed by the LED industry. Thanks to this collaborative agreement, Seoul Semiconductor has emerged as the unique beneficiary of GEL's PFS patent portfolio for all applications, suc...

General Electric (GE) is exiting its century-old lighting business with its announcement on May 27, 2020 that it has signed a definite agreement to sell the lighting unit to Savant System. Financial details of the deal was not revealed by both parties. Based on the agreement, Savant System will continue use the GE brand and keep headquarter in Cleveland, Ohio. The transaction is expected to close by mid-2020 and more than 700 employees will transfer to Savant after the deal completed. GE’s light bulb business has a history of almost 130 years and it was the f...