Mergers and Acquistions News
Categories: Hardware
September 19th 2008, 15:31PM
German technology giant Bosch has completed a takeover of parts of the US-based LR Nelson Corporation.
The company announced that it now owns parts of LR Nelson's garden business, although it did not reveal the financial details of the acquisition.
"Through this acquisition, we will boost our worldwide sales in garden technology to $500 million (£273 million)," commented Manfred Seitz, president of Bosch's North and South American power tools division.
He added: "The Nelson product range is an excellent complement to our existing garden business."
The specific parts of the company purchased by Bosch focus on the outdoor decor and garden watering sectors.
Bosch has been involved in numerous mergers and acquisitions in recent years, the most notable being the takeover of hearing aid and audio equipment manufacturer Telex Communications in 2006.
The following year, it launched Bosch Communications Systems to handle the purchased firm's products and brands. It is not known whether a similar thing will happen with the LR Nelson acquisition.
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