OSRAM has signed an agreement with Townsend Ventures, LLC to increase its stake in Encelium Technologies from 15% to 100%, acquiring the company.
Encelium, headquartered in Teaneck, NJ, is a leading software technology development company concentrating in advanced lighting control and energy management systems for commercial and industrial buildings. Encelium employs approximately 70 people in the United States and Canada.
Encelium’s expertise and distribution network will extend OSRAM’s reach into the energy efficiency business and position the company for further LED expansion. After closing, Encelium will become part of the OSRAM General Lighting – LMS organization.