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.
The 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. The company said the a
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