OSRAM, a German multinational lighting manufacturer, and Continental, a German multinational automotive parts manufacturing company, completed the formation of OSRAM Continental, a provider of semiconductor-based light modules, advanced electronics, optics and software expertise. Financial terms were not disclosed. Continental and Osram each hold a 50% stake in the joint venture. “By launching our joint venture, we are generating confidence that the market for intelligent automotive lighting will continue to grow and be viable. Furthermore, with our team comprising of management staff and experts from both companies, we will increase the speed of innovation as well as efficiency and integration. I am really looking forward to working with our new colleagues on developing exciting products,” Harald Renner, OSRAM Continental CFO and Member of the Board.