Apart from the buyout talk confirmation, Osram also announced that it has purchased shares of Square Metrics, a German company developing IoT solutions, for expanding its digital business in location-based services.

Osram aims to integrate Square Metrics’s IoT solution for retails, smart city and logistics with its sensor technology to extend product portfolio such as beacon. Stefan Kampmann, CTO of OSRAM, noted, "Square Metrics's innovative solutions enable sales-supporting advertising campaigns, detailed customer analyses and intelligent logistics monitoring of shipments. Square Metrics is therefore an excellent strategic addition to our portfolio."

(Image: Osram)

Square Metrics explained how its technology helps retailers to understand the behaviors of their customers for providing customized services in the dynamic society. Michael Kappler, Managing Director of Square Metrics said, "With Osram at our side, we can serve the rapidly increasing international demand for our products more quickly."

Square Metrics is founded in 2014 in Berlin and has built up a strong customer base nationally and internationally. The company has applied its technology in retail and service industry, such as grocery stores, fashion retailers or restaurants chains, but also industrial and large-scale projects such as Vienna Airport. Investors of the company include the former managing director of Wall AG, Daniel Wall; and Paulus Neef, co-founder of Pixelpark.