The deal – to be signed for an undisclosed sum – is expected to go through later this year.
The Philips CSI division manufactures, sells and supports a broad range of professional communication and security products and systems, including CCTV, congress and PA systems. It’s a profitable business, with posted sales of EUR 300 million last year.
Headquartered in Stuttgart, the Bosch Group is a diversified global enterprise serving customers in 130 countries by way of its 220,000 employees. With the acquisition of Philips CSI, the German concern will significantly strengthen its market position in systems and components for video surveillance (an area where it already employs 4,200 people).
