PHILPS's acquisition of Italy LED design company

PHILPS announced that it has acquired LED design firm Ilti Luce SpA in Italy, and signed an agreement with it, the purchase price has not been neglected. PHILPS believes that Ilti Luce is one of Europe's leading LED design companies in building interior lighting".

Ilti Luce was founded in 1989, headquartered in Italy, Turin City, and has become one of the European professional architects to design indoor lighting solutions for large LED manufacturers, LED interior lighting design of buildings, such as shops and museums. Among the landmarks of the lighting by Ilti Luce, is the Vatican cemetery in the Vatican, and the Egyptian Museum in Italy, Turin.

The company has approximately 30 employees, in 2008 its sales increased by a figure of two, and 15%-20% (high-teens) profit margin. This performance is expected to push Ilti Luce forward, while Ilti Luce will also make full use of PHILPS's distribution channels.

Carlo Albano CEO Ilti Luce, said, "since Ilti Luce after the establishment of the company, our strategy is for the architect to provide the most advanced lighting solutions," "cooperation with PHILPS and be able to use the most advanced lighting technology, will further enrich our experience and expand the market, we provide solutions for architectural lighting."

Luce and Ilti will become one of the PHILPS lighting professional companies when the two parties have completed the transaction in the first quarter of 2009 (subject to certain contracts and other conditions, such as regulatory approval).

Rudy Provoost, chief executive of PHILPS lighting said, "since Ilti Luce company was founded 20 years, has a leading architectural designer team, innovative high-end construction market for the rapid development of teaching, lighting solutions experience, and provide solutions for the lighting, enjoyed a high reputation," "we will train them the innovation and Entrepreneurship, to further improve our ability to provide unique interior lighting solutions."

PHILPS's acquisition of Ilti Luce is following the acquisition of other LED Domain company, including: Color Kinetics, TIR Systems and Lumileds. (http://www.ledsmagazine.com/news/6/2/21)