Following the approval of the UK Competition and Markets Authority (CMA), Osram, one of the world’s leading technology companies, officially acquired Ring Automotive as of May 1, 2019. With the acquisition of Ring, a British company that provides aftermarket products and services, Osram will both expand its product range in the automotive sector to include automotive electronics and accessories, and expand its sales network to enter new markets.
Osram’s acquisition of the British company Ring Automotive has become official following approval from the UK Competition and Markets Authority. Osram, which is preparing to strengthen its after-sales services and product range with Ring Automotive, which offers after-sales products and services throughout Europe, especially with its experience and know-how in the automotive lighting, automotive accessories and electronics sectors, also aims to expand its sales and distribution network by opening up to new markets. With this acquisition, Osram will gain strength by responding more quickly to new trends and market conditions in the ever-evolving automotive lighting industry.
Osram aims to grow in different areas with Ring
Ring Automotive, which brings together its products, numbering around 3,000, with its customers through more than 3,000 authorized dealers in more than 60 countries, has 160 employees. The company’s annual revenue in 2018 was 46.1 million pounds..
Osram Turkey CEO Can Dikmen, who emphasized that this acquisition has an important place within the scope of Osram’s growth strategy, said the following about the acquisition; “Ring Automotive is a very successful company with its experience and know-how in both its wide product range and after-sales service. This acquisition will allow Osram to grow further in the after-sales service area and will also support its future growth plans and product innovation. Therefore, this union of forces brings many opportunities for Osram. We believe that this investment, which is a very important turning point in terms of strengthening our presence in different markets with our new distribution and sales channels in Europe and the world and expanding our product range, will also make a splash in Turkey with our joint synergy.”
