OSRAM is acquiring Siteco Lighting GmbH based in Traunreut/Germany from Barclays Private Equity. Siteco is a leading European lighting company with a worldwide workforce of 1250 and achieving revenue of around €220 million in fiscal year 2010. The company supplies luminaires and lighting systems for urban infrastructures such as public and commercial buildings, streets, tunnels, airports and sports stadiums. More than two thirds of the global lighting market is covered by luminaires and lighting systems. “With this acquisition, OSRAM is addressing this key market. As a leading manufacturer of lighting components, we are now also further expanding our competencies in the solution business. This applies to conventional energy-saving lighting technology and in particular to LED-based luminaires and systems, where we are expecting the greatest growth”, says Martin Goetzeler, CEO of OSRAM. The transaction remains subject to approval by the relevant antitrust authorities. The parties have agreed to keep the purchase price undisclosed.
You can read the full release at OSRAM.com.