Philips Expands In Growing LED Market With Purchase Of Color Kinetics

Expanding its presence in light-emitting diodes (LEDs), Netherlands-based Royal Philips Electronics NV has agreed to acquire all of the outstanding shares of Color Kinetics Inc. for approximately $688 million in cash upon completion.

Boston-based Color Kinetics is a leader in designing and marketing innovative LED lighting systems, and its LED systems have been installed in more than 15,000 applications worldwide. For the past several years, the company’s booths at the LightFair trade

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