Royal Philips Electronics and Robert Bosch GmbH have announced a preliminary agreement regarding the sale of Philips CSI (Communication, Security & Imaging).
Completion of the transaction, which is subject to consultation with trade unions and workers councils and clearance by the competition authorities, is expected to take place later this year.

Financial details have not been disclosed.

Philips CSI has its headquarters in Eindhoven, the Netherlands, operating in 35 countries worldwide and employing approximately 1300 people, all of whom will transfer to Bosch.

CSI designs, manufactures, sells and supports a broad range of professional communication and security products and systems including CCTV, congress and public address systems.

Philips CSI is profitable business unit with sales of over EUR 300 million in 2001.

With the acquisition of Philips CSI, which will be placed within Bosch Sicherheitssysteme GmbH, Bosch strengthens its market position in systems and components for video surveillance, where it already employs 4200 people.

The acquisition will also give Bosch access to international markets for security systems, especially in North America, South East Asia and China.

The Bosch Group, with headquarters in Stuttgart, Germany, is a global enterprise serving customers in 130 countries in three business sectors: Automotive, Industrial Technology and Consumer Goods & Building Technology. In 2001, Bosch worldwide sales were EUR 34 billion. The company has 221,000 employees.

Source

Security Installer