Osram to acquire entertainment lighting company Clay Paky
Selective enhancement in highly attractive market
Osram is set to strengthen its position in entertainment lighting and agreed to acquire Clay Paky, a leading maker of entertainment lighting for shows and events. The profitable company from Northern Italy is privately owned and recently generated annual sales of more than €60 million. Its products include so-called moving heads, follow spots and projectors. They are used at live concerts, in theaters and studios as well as in the area of architainment. Both parties agreed not to disclose financial details of the transaction, which is expected to close by the end of the current calendar year. “Clay Paky is a selective addition and improves the position of the specialty lighting business unit in a highly attractive market”, said Wolfgang Dehen, Chief Executive Officer of Osram. The acquisition is subject to approval by the relevant antitrust authorities.
Osram is one of the leading makers of lamps and LED-based (Solid State Lighting - SSL) components for the entertainment industry. With the planned acquisition of Clay Paky, Osram will take over a well-respected entertainment lighting brand and push forward its value-driven strategy of technology and innovation. The innovation-driven entertainment lighting market is very attractive, with mid-single digit percentage growth rates. Clay Paky will be part of Osram’s Specialty Lighting business unit, which comprises the company’s automotive lighting as well as the display and optics activities.
“The combination of Osram and Clay Paky will form a leading professional entertainment lighting systems provider with a strong expertise in SSL technologies such as LED and laser light”, said Hans-Joachim Schwabe, CEO of Osram Specialty Lighting.
Clay Paky, founded in 1976, has more than 100 employees and is known for innovative products in the industry. Osram therefore plans to keep the Clay Paky brand due to its outstanding reputation in the international entertainment sector and to maintain the company’s independence to a large extent in day-to-day business. Notable artists and establishments trust in Clay Paky products – examples can be found at http://www.claypaky.it/en/news.
ABOUT OSRAM
OSRAM of Munich, Germany is one of the two leading light manufacturers in the world. The company's portfolio covers the entire value chain from components – including lamps, electronic control gear and opto semiconductors such as light-emitting diodes (LED) – as well as luminaires, light management systems and lighting solutions. OSRAM has more than 35,000 employees worldwide and generated revenue of almost €5.3 billion in fiscal 2013 (ended September 30). The company's business activities have been focusing on light – and hence on quality of life – for over 100 years. The company was listed on the stock exchanges in Frankfurt and Munich on July 8, 2013 (ISIN: DE000LED4000; WKN: LED 400; Trading symbol: OSR). Additional information can be found at www.osram-group.com
DISCLAIMER
This document contains statements and information pertaining to our future business and financial performance and future developments that may constitute forward-looking statements – i.e. statements about processes that take place in the future, not in the past. These statements pertaining to the future can be identified by expressions such as "anticipate", "expect", "want", "intend", "plan", "believe", "aspire", "estimate", "will”, "predict" or words of similar meaning. Such statements are based on current expectations and certain assumptions of OSRAM‟s management. They are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond OSRAM‟s control, affect OSRAM‟s operations, performance, business strategy and results and could cause the actual results, performance or achievements of OSRAM to be material different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or anticipated on the basis of historic trends. These factors include in particular, but are not limited to, the matters described in the chapter “Report on Opportunities and Risks” in the Annual Report of OSRAM Licht Group for fiscal 2013. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of OSRAM may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. OSRAM neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated. Due to rounding, numbers presented throughout this and other documents may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures they reference.