Schneider Electric enhances its position in Installation Systems & Control for the Residential & Buildings markets with the acquisition of Ritto GmbH & Co KG
Schneider Electric has signed an agreement to acquire Ritto GmbH & Co Kg, a German firm that designs, manufactures and markets door entry and intercom systems for the residential and small tertiary buildings markets. Ritto GmbH & Co KG generated revenue of nearly € 25 million in 2006.
With this acquisition, Schneider Electric adds 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). Furthermore, it reinforces the Group’s presence in the German market.
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 submitted to the authorisation of the antitrust authorities.
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