Osram has sold its North American service business, Sylvania Lighting Solutions to Wesco International.
Supply chain services provider, Wesco, will acquire around 220 employees based in the US and Canada.
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“With the sale of its North American services business, Sylvania Lighting Solutions (SLS), Osram is making further progress toward becoming a photonics champion,” said an Osram statement. “In Wesco International, Osram has found the best new owner for the services business with approximately 220 employees and annual sales of more than US$100m.
“Osram is increasingly focusing on intelligent technologies in the field of visible and invisible light for the market fields of visualisation, sensor technology and treatment. Osram’s Management Board decided in May 2018 to initiate the divestiture of the SLS business. The financial effects of the sale on Osram’s balance sheet are minimal.”
The transaction is expected to close in the first calendar quarter of 2019 and the purchase price is in the double-digit million Euro range, although no specifics have been disclosed.
Osram, based in Munich, is a global high-tech company with a history dating back more than 110 years.
Primarily focused on semiconductor-based technologies, its products are used in applications ranging from virtual reality to autonomous driving and from smartphones to networked, intelligent lighting solutions in buildings and cities.
