Osram Completes Acquisition of Clay Paky

Osram has successfully completed the acquisition of Clay Paky, a provider of entertainment lighting for shows and events. All necessary approvals from the respective authorities have been granted regarding the acquisition. With this move, Osram will further expand its position in entertainment lighting. "The successful closing of this transaction is a further step towards strengthening Osram's specialty lighting segment in a highly attractive market," said Wolfgang Dehen, chief executive officer of Osram. Pio Nahum, who has been appointed CEO of the Clay Paky business also with effect from October 13, 2014, explained: "As part of Osram, we have good prospects for further growth."

With the acquisition of Clay Paky, Osram is pushing forward its strategy of technology and innovation. The innovation-driven entertainment lighting market is very attractive, with mid-single digit percentage growth rates. Clay Paky will be part of Osram's specialty lighting segment, which comprises the company's automotive lighting as well as the display/optic activities.

Last week during the PLASA London exhibition in London, Clay Paky won the PLASA 2014 Award for Innovation for their new moving head "Mythos" -- an advanced form of hybrid light, combining beam light and spotlight. Clay Paky has received the prestigious award the eighth time now.