Philips acquires TIR Systems
TIR Systems, based in Vancouver, Canada, is a leading company in Solid State Lighting (SSL) technology for products that generate high quality white light. The company is commercializing its newly-developed Lexel technology for SSL-based spotlighting with a platform of fully integrated SSL modules.
“We are pleased to strengthen our position in Solid State Lighting through this acquisition,” Peter van Strijp, Chief Executive of Philips Lighting’s Solid State Lighting business unit, said. “Through the successful integration of Lumileds in 2005, we ensured a leading position in Light Emitting Diodes (LEDs) for the general lighting market, and through the acquisition of TIR Systems we now strengthen our position in delivering integrated lighting products to lighting fixtures manufacturers. Our focus will now be on making lighting products that utilize TIR Systems’ Solid State Lighting modules widely available.”
The transaction is subject to the terms and conditions of the merger agreement and to the approval of TIR shareholders and is expected to close in the second quarter of 2007.
Related News
Offshore wind is set to become a $1 trillion business
LONDON - The need for affordable low-carbon technologies is greater than ever
Global energy-related CO2 emissions reached a historic high in 2018, driven by an increase in coal use in the power sector. Despite impressive gains for renewables, fossil fuels still account for nearly two-thirds of electricity generation, the same share as 20 years ago. There are signs of a shift, with increasing pledges to decarbonise economies and tackle air pollution, but action needs to accelerate to meet sustainable energy goals. As electrification of the global energy system continues, the need for clean and affordable low-carbon technologies to produce this electricity…
