PHILIPS ACQUIRES SELECON

Royal Philips (AEX: PHI, NYSE: PHG) announced that it acquired New Zealand-based Selecon, a prominent global designer, manufacturer and distributor of professional theatrical and architectural lighting fixtures. Under the terms of the agreement, Philips will acquire the business assets of Selecon New Zealand Limited, Selecon UK Limited, Selecon North America LLC and Aureol Lighting Limited. No financial details on the transaction were disclosed.

“Selecon’s highly acclaimed luminaires for the theatrical and architectural markets will further strengthen the breadth of solutions Philips can offer to important professional customers such as performing arts
ce, churches, convention centres and hotels,” said Rudy Provoost, Chief Executive of Philips’ Lighting sector. “We are further strengthening the product portfolio of our globally leading entertainment lighting business, building on the foundation provided by the acquisition of Genlyte in 2008.”

Selecon has delivered a double digit annual revenues growth rate over the last four years, a performance which is expected to continue in the years to come. Selecon has become part of the Entertainment Group within the Philips Professional Luminaires business, which also encompasses the Vari-Lite and Strand Lighting business operations.