Engie to Acquire German Technology Company OTTO
December 19 2018 - 8:22AM
Dow Jones News
By Olivia Bugault
Engie SA (ENGI.FR) said Wednesday that it has signed an
agreement to acquire German technology and service company OTTO
Luft-und Klimatechnik, which specialize in building technology and
ventilation.
Financial details were not disclosed. OTTO employs about 700
employees and should have turnover of roughly 120 million euros
($137 million) in 2018, Engie said.
Engie said that OTTO would become part its German unit Engie
Deutschland and that the acquisition will strengthen its position
for technical services.
Write to Olivia Bugault at olivia.bugault@dowjones.com
(END) Dow Jones Newswires
December 19, 2018 09:07 ET (14:07 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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