Acquisition of 74% in Luminous Power Technologies Pvt. Ltd
Schneider Electric completes its acquisition of 74% in Luminous Power Technologies Pvt. Ltd., a leading power back-up and power solutions provider in India.
Schneider Electric reinforces its position within the lucrative Indian Inverter and UPS market with the acquisition of a majority stake in Luminous Power Technologies Pvt. Ltd.
Luminous is a leading global company delivering high quality power products for home and commercial applications. The company’s portfolio includes products and services in telecom infrastructure and renewable energy systems such as solar, wind and hybrid solutions.
Luminous brings with it a strong brand and technical expertise in the power-backup and power-storage space. Schneider Electric gains channel access to over 900 distributor and over 25,000 point of sales through the acquisition.
The partnership enables Schneider Electric to leverage the strong Luminous brand and the know-how of the company to develop a strong home electrical business focused on Final Low Voltage (FLV) & Wiring Devices (WD) products through a vast retail network. Luminous also expands Schneider Electric’s portfolio of products in Rural/BOP space.
As a result of the deal, the Group stands to strengthen its local R&D capabilities and to benefit from a low-cost R&D and a cost efficient industrial footprint in India. The acquisition also provides Schneider Electric with an opportunity to leverage the strength of the Luminous brand as a platform to expand into the inverter market in other new economies, particularly the emerging countries in Asia, Africa and Middle East.