Philips Acquires Shares in Lumileds
Oct 1, 2005 — Royal Philips Electronics has purchased shares in Lumileds Lighting of San Jose, Calif. Through the transaction, the Netherlands-based company gains a controlling 96 percent interest in Lumileds, which manufactures LEDs for solid-state lighting.
In a press conference announcing the acquisition, Theo van Deursen, CEO of Philips Lighting Co., said that Lumileds was created in 1999 as a joint venture between Philips and Agilent Technologies Inc. of Palo Alto, Calif., as equal shareholders....