Philips Completes Acquisition of U.S.-Based Color Kinetics

Royal Philips Electronics announced it completed its acquisition of Color Kinetics Incorporated, a designer of lighting systems based on light emitting diode (LED) technology.

As a result of the transaction, Color Kinetics will be financially consolidated with immediate effect within the Luminaires business group of Philips’ Lighting division.

Philips said the acquisition of Color Kinetics further bolsters its intellectual property portfolio, adding patents relating to intelligence and control technology for LED lighting.