Philips buys Dynalite
Paul Milligan, March 25, 2009
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Philips has bought lighting controls manufacturer Dynalite, it will become part of Philip’s Lighting Electronics business. Financial details of the agreement were not disclosed.
Rudy Provoost, chief executive of Philips’ Lighting sector commented, ‘The acquisition of Dynalite enables us to further strengthen our offering of integral energy management solutions to major corporations, property developers and hotel groups,’.
Dynalite was founded in 1989 and manufactures energy management and building automation, architectural lighting control, home automation and residential applications products. The company, with offices in Australia, the U.K., China and Dubai has around 130 employees.
Philips has bought Dynalite to extend its lighting controls protfolio, the combination will have a estimated total market value of approximately €2 billion.
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