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Purchase completes Philips' solid-state lighting portfolio

Posted: 21 Jun 2007 ?? ?Print Version ?Bookmark and Share

Keywords:LED applications? solid-state lighting? lighting system?

Targeting to cover the entire value chain for solid-state lighting, Philips Electronics will acquire LED lighting system vendor Color Kinetics Inc. The company had previously purchased Lumileds and TIR Systems.

According to the Dutch company, the market for solid-state lighting is at an inflection point for growth as the LED performance is rapidly becoming competitive with traditional light sources such as incandescent lamps or fluorescent lamps. Philips expects that white LED applications will trigger "substantial" market growth, quoting independent market researchers who estimate that the addressable market will reach $20 billion to $30 billion. Presently, the market sports a growth of about 30 percent per year.

Philips will pay about $ 795 million for Color Kinetics. While the implied enterprise value of the U.S.-based company is $693 million, Philips will also pay the company's debt of $102 million.

- Christoph Hammerschmidt
EE Times Europe

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