Philips acquires Power Sentry

Royal Philips Electronics has bought, for an undisclosed sum, Power Sentry, a division of Fiskars Brands Inc., which specializes in and is the number two player in the North American plug-in power surge protector market.

Power Sentry had sales last year of about $50 million.

In 2005, the global plug-in power surge protector market was valued at about $640 million, with North America representing approximately 80 percent of the global market. However, Philips says it believes that over the next five years the global market will grow annually by approximately 9 percent with higher growth rates expected in Europe, Asia and Latin America.

"Power Sentry has a proven track record in growing its position in the North American plug-in power surge protector market," said Rudy Provoost, CEO of Philips Consumer Electronics.

"This acquisition fits Philips' aim to become a top three global player in the audio-visual, PC and mobility accessory market, builds on our earlier acquisition of U.S. accessories supplier Gemini and allows us to leverage Philips' global presence to extend Power Sentry's activities beyond its North American base," Provoost said on a statement.

- John Walko
EE Times