Osram recently formally acquired a minority stake in German company Beaconinside to further expand its digital presence in location-based services.
Beaconinside, headquartered in Berlin, Germany, develops innovative Internet of things (IoT) industry solutions for retail, smart cities and logistics.
Stefan Kampmann, osram's chief technology officer, said: "by combining osram's iot platform with sensor technologies such as bluetooth location receivers, Beaconinside's innovative solution is able to deliver marketing campaigns and actually increase sales, provide detailed customer analysis and intelligent logistics delivery monitoring.
Beaconinside is a strategic complement to our portfolio.
Michael Kappler, managing director of Beaconinside, explained: "today, there is a constant and significant change in the buying behavior of retail customers.
Our technology enables retailers to better understand this rapidly changing behavior, thus helping them to improve their sales methods for specific changes in each region.
With osram's support, we can more quickly meet the growing demand for our products in the international market.
Since its inception in 2014, Beaconinside has built a strong customer base with well-known customers in the retail, service and industrial sectors, both at home and abroad.
Location-based information enables retailers to provide customers with precisely tailored goods through applications and perform logistics chain analysis.
Beaconinside also has a cost-effective tracking solution in its portfolio, which has been successfully used in pallet pooling by global market leader CHEP.