TRUMPF GmbH is acquiring 100 percent of Photonics GmbH from Philips, headquartered in Ulm, Germany. TRUMPF says this opens up a new market segment for the company in addition to its existing business in high-power diode lasers and expands its product portfolio. Through the acquisition, TRUMPF hopes to expand its access to fast-growing markets in the photonics and digital products sectors. Laser diodes from Philips Photonics are used, for example, in smartphones, in digital data transmission, and in sensors for autonomous driving. Photonics GmbH employs around 280 people. TRUMPF says it invested almost €340 million in research and development in the past fiscal year, 2017/2018. This corresponds to a development ratio of 9.5 percent. Lars Grünert, member of the Group Management Board and Chief Financial Office, is responsible for the new TRUMPF product field. Both companies have agreed not to disclose the purchase price. The transaction is expected to be completed in the second quarter of 2019.