Philips buys another lighting company
Philips NV, the Dutch lighting and consumer electronics company, just announced the purchase of another US specialty lighting company. This time it is Genlyte Group. The purchase is for $2.7 billion. Philips is already the world's #1 maker of light bulbs, and the deal and it reportedly makes Philips the #1 North American lighting company, ahead of General Electric. The deal would be Philips' largest ever.
Genlyte specialized in solid states lighting, such as LEDs (light emitting diodes), as well as halogen, incandescent, and this form of lighting uses less energy than incandescent lighting plus have a longer life. It also has an extensive dealer network. Genlyte sells its products under about thirty brands, including Bronzelite, Alkco, Capri, ExceLine, Lightolier, Translite, and Wide-Lite. Bronzelite, for example, specializes in lighting products for commercial landscaping. Alkco makes LED night lights, lighting for hospitals, and halogen-based task lights. Capri makes recessed lighting systems. TransLite specilizes in low-voltage lights.
Earlier this year , Philips acquired Color Kinetics, a US-based LED maker, as well as full control over U.S.-based Lumiled Lighting, In 2006, it bought Partners in Lighting ,a Belgian LED lighting firm.
This is a cash deal funded by Philips sales of its semiconductor business in 2006. Philips is narrowing its specialization to consumer electronics and medical devices.
5:52:22 PM 
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