Osram acquires Italy's Clay Paky to improve company's position in specialty lighting market
Osram’s official website announced on the 8th that in order to expand the lighting business in the entertainment industry, the company will acquire Clay Paky, a private company headquartered in Bergamo, Italy. Clay Paky mainly produces stage lighting such as moving head beam lights and follow-spot lights, as well as projectors used in concerts, theaters and studios, with annual sales of more than 60 million euros. Financial details of the deal were not disclosed, but it is expected to close before the end of the year.
"Featured lighting is a very attractive market, and we deliberately chose to acquire Clay Paky in order to improve the company's position in this market." Osram CEO Wolfgang Dehen said.
OSRAM stated that the innovation-driven entertainment lighting market is very attractive, with a growth rate of mid-single digits. Clay Paky will become part of Osram's specialty lighting business, which includes automotive lighting, displays and optical activities.
"The combination of Osram and Clay Paky will form a leading supplier of professional entertainment lighting systems based on powerful SSL technologies such as LED and laser," said Hans-Joachim Schwabe, CEO of Osram Signature Lighting.
Clay Paky was founded in 1976 and has more than 100 employees. As its Clay Paky brand enjoys a reputation in the international entertainment industry, Osram plans to retain it and maintain the company's independence to the greatest extent possible in day-to-day operations.
ANNA