Bridgelux faces competition from large, established players in the LED market, including Dutch giant Philips Electronics and Osram, a unit of Siemens.

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Luxim, a privately-held company that would not disclose its revenues, will be competing in the land of lighting giants like GE, Philips, and Osram (a unit of German conglomerate Siemens).

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Infineon, the former semiconductor unit of Germany's Siemens , has made DRAM products for years.

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Siemens Business Services (SBS) will also take over BBC Technology, the corporation's IT unit.

BBC: NEWS | Business | Siemens wins major BBC contract

Siemens has set aside 300m euros to pay for the redundancies which will come in its fixed-line telephone unit.

BBC: Siemens to cut 6,500 more jobs