Osram acquires Clay Paky
Published: ASIA
WORLD: Clay Paky founder and president Pasquale Quadri has signed an agreement for the acquisition of the company by global light manufacturer Osram. Following the acquisition, Clay Paky will continue to operate from its production and administrative head office in Bergamo, Italy and has described the decision as ‘vital to a secure future’. The transaction is subject to approval from anti-trust authorities but is expected to be completed by the end of this year.
‘Integration with Osram, which has a great wealth of technological competence and an in-depth knowledge of the lighting market, is an ideal opportunity for the further development of Clay Paky,’ explained Mr Quadri. ‘After 40 years crowned by success, I am delighted to be able to offer my company, my staff and our customers a reliable solution for a secure future.'
Osram plans that Clay Paky will maintain its independence to a large extent in day-to-day business.
‘Clay Paky is a selective addition and improves the position of the specialty lighting business unit in a highly attractive market,’ continued Wolfgang Dehen, CEO of Osram.
‘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,’ added Hans-Joachim Schwabe, CEO of Osram Specialty Lighting.