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Siemens’ Osram To acquire Siteco from Barclays Private Equity

Siemens AG’s Osram unit is acquiring Siteco Lighting GmbH from Barclays Private Equity for a low three-digit million euro amount.

Siteco is a leading European lighting company with a worldwide workforce of 1250 and 2010 revenue of around EUR220 million. It 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.

Siteco produces luminaires in Germany and China and has over 15 sales companies in Europe, as well as a global sales network.

The demand for innovative, energy-efficient lighting solutions continues to grow at a rapid pace. The entire market for components, luminaires and lighting systems is estimated by analysts Monday at around EUR45 billion, over two-thirds of which is accounted for by luminaires and lighting systems.

Driven by semiconductor-based technologies such as LEDs and OLEDs (organic light-emitting diodes), the total market is likely to grow to around EUR65 billion by the year 2016.

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