
Danfoss sells subsidiary to Siemens
Danish multi-billion company Danfoss is selling its subsidiary, Danfoss Fire Safety, specializing in fire safety, to Siemens, according to a press release by Siemens. The majority of the approximately 125 employees of Danfoss Fire Safety are based in Odense and will now be part of Siemens’s Danish operations. Andrea Waenerlund, Siemens’ Danish business head, states the acquisition will enhance Siemens’s portfolio in fire safety and help meet the demand for sustainable firefighting solutions. This acquisition aims to better serve the established construction market, including rapidly growing industries like data centers. Danfoss, known primarily for producing thermostats, states through M&A head Troels H. Petersen that fire safety does not align with its strategic focus, hence the divestiture. The deal is awaiting regulatory approval, expected to complete by year-end. The purchase price and other details were not disclosed.