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
Website Providing Electricity Purchase Options Offered Fewer Choices For Spanish-speakers
DALLAS - The state’s Public Utility Commission has ordered that the Spanish-language version of the Power to Choose website provide the same options available on the English version of the site.
Texas is one of a handful of states with a deregulated electricity market. The ides is to give consumers the option to pick power plans that they think best fit their needs. Customers can find available plans on the state’s Power To Choose website, or its Spanish-language counterpart, Poder de Escoger. In theory, those two sites should have the exact same offerings, so no one is disadvantaged. But the Texas…
