Philips Shakes Up Lighting Fixture Market with Proposed Genlyte Acquisition

摘要

As part of its strategy to introduce more green products into the North American market, Royal Philips Electronics NV intends to buy Genlyte Group Inc., Louisville, Ky., for $2.7 billion.rnThe proposed acquisition builds on Philips' earlier purchase of Boston-based Color Kinetics, a leader in designing and marketing innovative LED lighting systems (see EM - June 29. 2007), and provides Philips with a leading position in the North American lighting fixture market.