Osram eyes acquisitions of up to $530 million
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German lighting company Osram is on the lookout for acquisitions worth up to 500 million euros ($530 million), although there are no specific plans for a deal as yet, its finance chief told Retail News.
Osram wants to strengthen the areas of electronics and software within its automotive lighting unit and is looking for acquisition targets or partners, Ingo Bank told Boersen-Zeitung in an interview published on Saturday.
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.
Questions & Answers
Q.What is the primary motivation behind Osram's search for acquisitions?
What is the primary motivation behind Osram's search for acquisitions?
Osram aims to strengthen its automotive lighting unit by expanding capabilities in electronics and software. Acquisitions for its Opto semiconductors unit would also be appealing if they provided new market access.
Q.How much funding does Osram have available for potential acquisitions?
How much funding does Osram have available for potential acquisitions?
Osram has up to 500 million euros ($530 million) available for acquisitions. This funding comes from the sale of its LEDvance lamps division and its robust balance sheet.
Q.Are there any specific acquisition targets currently being pursued by Osram?
Are there any specific acquisition targets currently being pursued by Osram?
No, the finance chief stated that there are no specific plans for a deal as yet. Osram is currently only on the lookout for suitable acquisition targets or partners.
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