Everlight Electronics, TPV Technology Limited, and Epistar are forming a joint venture that will be focused on LED packages and light bars for the ramping TV and display backlight segment. The partners will capitalize the new venture with $30 million and base its operations in Fujian Province, China.

Each of the three partners brings a unique expertise to the venture. Everlight is a leading LED packaging company. TPV is a leading manufacturer of PC monitors and LCD TVs. And Epistar is a leading LED chip manufacturer.

This partnership comes on the heels of quite a lot of such partnership and investment activity in the LED backlight market segment. For example, Everlight recently partnered with LG Display and Amtran in another LED packaging venture. That partnership is also targeted at the backlight market.

Epistar has also been involved in a series of partnerships and acquisitions. Most recently, Epistar announced plans to take a 47.88% stake in Huga Optotech. Epistar is the largest LED chip maker in Taiwan and Huga is the second largest manufacturer. Again that investment was spurred by the demand for LEDs for the backlight market.