OSRAM LOOKING FOR ACQUISITION UP TO $530 MILLION TO STRENGTHEN ELECTRONICS AND SOFTWARE AREA
By TNI Network
Date: Apr 15 , 2017
New Delhi: In an interview published on Saturday in a German newspaper, CFO of German lighting company Osram said that they are on the lookout for acquisitions worth up to 500 million euros ($530 million), although there are no specific plans for a deal as yet. Osram wants to strengthen the areas of electronics and software within its automotive lighting unit and is looking for acquisition targets or partners. Acquisitions for its Opto semiconductors unit would also be attractive if they opened up access to markets, he said. Osram has funds available after the sale of lamps division LEDvance, which brought in gross proceeds of about 500 million euros, and thanks to its strong balance sheet, Bank said. "We have a lot of firepower and the ability to act. However, we will not be making the error of buying for the sake of it," the paper quoted him as saying.