Osram: sells North American service business

(CercleFinance.com) - Germany's Osram has said that it has agreed to sell Sylvania Lighting Solutions, its North American service business, to electronics distribution company Wesco International for a price "in the double-digit million euro range".


The lighting group - which is increasingly focusing on photonics, visualization, and sensor technology - said the deal is expected to close in the first calendar quarter of 2019.

The deal means that the distributor and supply chain services provider Wesco International will acquire approximately 220 employees based in US and Canada, generating annual sales of over 100 million dollars, Osram said.



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