Schneider Electric
has signed an agreement to acquire
’s
Ritto, a company that designs, manufactures and markets door entry and intercom systems and which generated 2006 revenues of nearly €25m.
With this acquisition, Schneider Electric says it is adding a comprehensive range of door entry and intercom systems to its already broad offering in Installation Systems & Control, which includes wiring devices, installation material, control products and VDI.
Jean-Pascal Tricoire, Chairman of the Management Board and CEO, commented: ‘After the acquisitions of Merten and Clipsal in 2006, the acquisition of Ritto will accelerate the development of Schneider Electric within the fast growing home control market.’
The transaction is subject to approval by antitrust authorities.
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