Siemens announced that its Osram lighting unit is acquiring Siteco Lighting GmbH, Traunreut, Germany, from Barclays Private Equity. Siteco is a leading European lighting company with a worldwide workforce of 1,250 and revenue of around €220 million (approximately $306 million US) in fiscal year 2010. The company supplies luminaires and lighting systems for urban infrastructure such as public and commercial buildings, streets, tunnels, airports and sports stadiums.
Siteco Lighting produces luminaires in Germany and China and has over 15 sales companies in Europe, as well as a global sales network. This acquisition therefore provides Osram with broad access to the market for lighting solutions and a modern range of products in the field of interior and exterior lighting, Siemens said.