Schneider acquires 74% stake in Luminous

Schneider Electric has acquired 74 per cent stake in Luminous, a leading inverter/UPS player. The combination with Luminous will broaden the product portfolio of Schneider Electric, balance its geographical exposure in India and provide access to the diffused distribution network which complements the existing IT distribution channels. Schneider Electric will be able to leverage the strength of the Luminous brand as a platform to expand into the inverter market in other new economies and also reinforce its position in the home electrical space through a large number of retail outlets.