On July 6th Amys Semiconductor (AMS), an Austrian maker of chips and sensors, announced that it had received unconditional regulatory approval from the European Commission for its €4.6 billion takeover of Osram, bringing an end to an extended and protracted takeover.

Both AMS and Osram are global suppliers of optical sensors, including certain optical sensors and laser diodes used in consumer electronics, automotive, industrial, medical and other markets.

The deal will integrate the two companies' optical semiconductor solutions and technologies to drive the industry's continued growth. After the deal closes, AMS will own 69% of Osram, excluding inventory shares.

Alexander Everke, AMS Chief Executive officer, said: "We are proud to have completed our acquisition of Osram on schedule. Today marks an important milestone for AMS and Osram as global leaders in sensor solutions and photonics. Together, we will provide our customers with exciting new products and solutions to drive innovation in optical technology."

The deal was actually completed in December 2019, but is subject to review by the European Commission. At the time, AMS announced that more than 55% of Osram's shareholders had accepted an offer of 41 euros a share. At the same time, they promised that no Osram employees would be fired as a result of the merger until 2022.The deal was approved after the European Commission said in a statement on its website that a merger between the two companies would not constitute a monopoly.