Philips 2007 Annual Report Download - page 50

Philips Annual Report 200756
European market. This acquisition will strengthen Philips’
presence in LEDs – especially for home lighting, where
solid-state lighting (SSL) will bring major benets in
terms of creating atmospheres and reducing energy
consumption.
Lighting Technologies International
In November 2007, Philips acquired Lighting Technologies
International (LTI), a US-based manufacturer of high-
power xenon lamps for the entertainment industry and
a leading supplier of cinema projection lighting in the
United States. LTI’s strong presence in applications for
high-power xenon lamps will round off Philips’ portfolio
of xenon lamps.
Genlyte
In January 2008, Philips completed the acquisition of
North American luminaires company Genlyte, a leader in
the North American construction luminaires market, for
EUR 1.8 billion. Genlyte designs, manufactures and sells
lighting xtures, controls and related products for a wide
variety of applications, including solid-state lighting. This
acquisition builds on our earlier acquisitions of Color
Kinetics, TIR Systems, Partners in Lighting International
and provides us with a leading position in the North
American luminaires market. Through this acquisition,
Philips has established a solid platform for further
protable growth, building on Genlyte’s extensive
presence in North America to speed up the adoption
of energy-saving, green lighting technologies.
Consumer Healthcare Solutions
Unsustainably high healthcare costs in many markets, the
aging of the population and the expectation that seniors
will double as a percentage of the total population over
the next 25 years in Western Europe and the US, are
factors underpinning Philips’ drive to become a global
player in the home healthcare market.
Health Watch
In 2007, Philips acquired personal emergency response
company Health Watch, a US-based, privately-held
provider of personal emergency response services.
This acquisition will further strengthen our leadership
position in the fast-growing market for emergency
response services, building on the Lifeline Systems
acquisition in 2006.
Building upon our 2006 purchase of Lifeline, in 2007 we announced
a number of strategically aligned acquisitions – Respironics, Health
Watch and Raytel Cardiac Services – designed to further strengthen
our position in the fast-growing home healthcare solutions market.
8 Financial highlights 10 Message from the President 16 The Philips Group
Acquisitions
62 The Philips sectors