China-based laser diode components and materials developer Focuslight Technologies has agreed to acquire ams OSRAM's Passive Optical Components business in a deal worth €45 million (~$48.4 million). The sale relates to the company’s “Re-Establish the Base” strategy, under which the company is exiting its non-core portfolio in its semiconductor business. The transaction is subject to closing conditions which include approvals by the shareholders of Focuslight Technologies and Chinese regulatory authorities. The transaction is expected to close in the third quarter of 2024. ams OSRAM’s existing business in optical components for consumer applications is not part of the transaction. Focuslight previously acquired SUSS MicroOptics last November. ams OSRAM recently reported the cancellation of a cornerstone project for its microLED program, noting that it will consider additional cost improvements under the Re-Establish the Base program, which had initially noted microLEDs as an area of focus.