Osram: sells luminaires business to investment firm
(CercleFinance.com) - Germany's Osram has agreed to sell its luminaires business Siteco to a German investment firm for an undisclosed amount.
Osram said that it has found a new owner for the unit in Stern Stewart Capital, the investment arm of Munich-based strategic consultancy Stern Stewart & Co.
Osram said that the deal is part of its transformation into a "high-tech company," now focusing on semiconductor-based technologies for autonomous driving and connected lighting products.
Siteco employs about 900 people and generated revenue of over 200 million euros last year.
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Osram said that it has found a new owner for the unit in Stern Stewart Capital, the investment arm of Munich-based strategic consultancy Stern Stewart & Co.
Osram said that the deal is part of its transformation into a "high-tech company," now focusing on semiconductor-based technologies for autonomous driving and connected lighting products.
Siteco employs about 900 people and generated revenue of over 200 million euros last year.
Copyright (c) 2019 CercleFinance.com. All rights reserved.