Royal Philips Electronics (AEX: PHI, NYSE: PHG) has acquired Teletrol
Systems Inc., a company developing integrated solutions for lighting
and energy usage.
The company was owned by the well-known inventor Dean Kamen–best known for his Segway personal vehicle company.
Financial terms of the deal were not disclosed.
Teletrol is the latest acquisition by Philips, which has spent $5.4
billion since 2005 buying lighting and energy-related companies.
Founded in 1985, Teletrol, based in Manchester, New Hampshire,
makes software and hardware-based energy management systems and
controls. The company has more than 10,000 commercial and retail
installations around the world and has posted double-digit sales growth
in recent years.
Teletrol’s operations will be incorporated into the Lighting Electronics group of the Philips Lighting sector. The addition of
Earlier this year Philips acquired the Australian lighting
controls company Dynalite, while growing its capabilities in
architectural and entertainment lighting solutions with the
acquisitions of Ilti Luce in Italy, and Selecon of New Zealand.
Philips was named a "corporate pioneer" on the 2009 Sustainable Business 20 List.
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