Osram continues its transformation and moves one more step ahead with sales of its North American services business, Sylvania Lighting Solutions (SLS). WESCO International subsidiary is acquring the business operation of SLS with a price of double-digit million euro. The transaction is expected to close in the first quarter of 2019.
According to Osram, its Management Board has decided in May 2018 to initiate the divestiture of the SLS business. With the aquisition, WESCO will take over the services business with about 220 employees in North America, as well as its annual sales of more than US$100 million.
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