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Philips Completes Acquisition of Color Kinetics
Royal Philips Electronics has announced that it has completed its acquisition of Color Kinetics Incorporated. As a result of the transaction, Color Kinetics will be financially consolidated with immediate effect within the Luminaires business group of Philips’ Lighting division.
The acquisition of Color Kinetics further bolsters Philips’ strong intellectual property portfolio, adding important patents relating to intelligence and control technology for LED lighting. Color Kinetics also has in excess of 15,000 professional installations worldwide and an array of large, industrial customers in professional channels. The acquisition of Color Kinetics builds on the acquisition of Lumileds in 2005, through which Philips ensured a leading position in high-power LEDs, and on the recent acquisition of TIR Systems, which provided Philips with a strong line of fully-integrated Solid State Lighting (SSL)-modules used to deliver integrated lighting products to fixture manufacturers.
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