BERLIN (dpa-AFX) - Siemens AG (SIEGY.PK, SMAWF), a technology company, said on Tuesday that it will acquire Danfoss Fire Safety, a specialist in fire suppression technology and a subsidiary of Denmark-based Danfoss Group. The terms of the transaction were not disclosed.
The acquisition will enhance Siemens' fire suppression portfolio with high-pressure water mist and accelerate the transition towards offering a sustainable fire safety portfolio.
The transaction, subject to regulatory approvals, is expected to close by the end of calendar year 2024.
Danfoss Fire Safety will report into the Buildings Business Unit, which is part of Siemens Smart Infrastructure.
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