| The acquisition will allow Osram to expand in the market for energy-efficient lighting systems and luminaires, and opens up further potential for growth in LED applications. Osram is to acquire Siteco Lighting GmbH, a lighting company based in Traunreut, Germany, from Barclays Private Equity. The transaction remains subject to approval by the relevant antitrust authorities, and the parties have agreed to keep the purchase price undisclosed.
Siteco has a worldwide workforce of 1250 and achieved revenue of around EUR220 million in fiscal year 2010. In comparison, Osram employs around 40,000 people worldwide and had sales of EUR4.7 billion in fiscal year 2010.
Siteco was originally part of Siemens |
