OSRAM Acquires Encelium Technologies Increasing Stake in Company to 100 Percent
Oct 5, 2011
OSRAM has announced a new signed agreement with Townsend Ventures, LLC to increase its stake in Encelium Technologies from 15 to 100 percent, acquiring the company. The deal was made by OSRAM as a way to add to its role in two key global growth markets, LED based technologies and Light Management Systems (LMS). Encelium should further OSRAM's General Lighting portfolio of energy-efficient lightings products and solutions.
Encelium is headquartered in Teaneck, N.J., employing people in the United States and Canada. As a leading software technology development company, its focus is in advanced lighting control and energy management systems for commercial and industrial applications. The company's knowledge and distribution network will cause OSRAM's role in the energy efficiency industry to continue growing in the LED sector.
Acquiring Encelium and the lighting control software it offers is "the next logicla step for OSRAM in becoming one of the leading LED lighting solutions providers," said Klaus-Günter Vennemann, CEO of General lighting at OSRAM. With the world's dependence on electricy growing, developing more energy efficient lighting will answer an "ever-increasing demand for improved energy efficiency."
For more details:
Author: Rebecca Milne
Reviews forum #FORUM# is not exist
Submit Product ReviewDownload Review Form
Chroma-Q™ Launched Three New LED Luminaires