Philips buys US lighting supplier Genlyte for $2.7 billion

[High-tech LED News] Recently, Philips Electronics of the Netherlands announced that it will acquire US lighting supplier Genlyte for US$2.7 billion. Currently, Philips has reached an agreement with Genlyte on the acquisition. If the acquisition is successful, Philips will become the largest lighting company in North America.

Philips is the world's largest lighting equipment manufacturer, the third largest medical device manufacturer and the largest consumer electronics manufacturer in Europe. Since last year, Philips has launched a series of asset-stripping operations that have shocked the industry and transformed its business.

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