By Olivia Bugault

Engie SA (ENGI.FR) said Wednesday that it has signed an agreement to acquire German technology and service company OTTO Luft-und Klimatechnik, which specialize in building technology and ventilation.

Financial details were not disclosed. OTTO employs about 700 employees and should have turnover of roughly 120 million euros ($137 million) in 2018, Engie said.

Engie said that OTTO would become part its German unit Engie Deutschland and that the acquisition will strengthen its position for technical services.

Write to Olivia Bugault at olivia.bugault@dowjones.com

(END) Dow Jones Newswires

December 19, 2018 09:07 ET (14:07 GMT)

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