OSRAM AG Entered Into Contract to Gain a 100% Interest in Encelium Technologies

OSRAM AG, the world’s second-largest lighting company, yesterday entered into contract to gain a 100% interest in Teaneck-based Encelium Technologies, announced Tony Marano, Encelium’s president and chief executive officer. The 10-year-old firm has emerged as a leading technology manufacturer specializing in advanced lighting control and energy management systems for commercial and industrial buildings. OSRAM, a subsidiary of Siemens AG, Germany’s largest engineering company, previously held a 15 percent stake in Encelium. After closing, Encelium will become part of the OSRAM Lighting Management System division. "This transaction provides further validation of Encelium’s position as a leader in lighting energy management systems,” Marano noted. “The result will strengthen our already well-established sales force, distribution and go-to-market strategy. We look forward to continuing to work with our customers and channel partners to leverage the Osram relationship to grow our business on a global scale.” "With the OSRAM brand and its resources behind us, we are now embarking on the next chapter for our company – one that surely will include increased adoption of Encelium lighting controls in the commercial marketplace,” Marano added. “Our organization now is well positioned to help ECS evolve into the industry’s dominant lighting control technology.” Encelium’s ECS currently is used in more than 40 million square feet of commercial space. In addition to its Teaneck headquarters, the firm has more than 70 employees and operations in Canada and Europe. Source: www.ledinside.com