Strengthening its position in the fast-growing LED market, Royal Philips Electronics NV, the parent of Philips Lighting, Somerset, N.J., plans to buy 47 percent of LED manufacturer Lumileds from Agilent Technologies, Palo Alto, Calif., for $950 million.
Based in San Jose, Calif., Lumileds was created in 1999 as a joint venture between Philips and Agilent Technologies to pioneer applications in solid-state lighting for light-emitting diodes (LEDs). The acquisition would give Philips a
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