Philips has announced that it has reached an agreement to acquire Italy-based Ilti Luce SpA, an LED design company for architectural indoor lighting.
Upon closing of this transaction in the first quarter of 2009, which is subject to certain contractual and other conditions such as regulatory approvals, Ilti Luce will become part of the Professional Luminaires business within the Philips Lighting sector.
Among the architectural monuments lit by Ilti Luce are the Vatican Necropolis in Vatican City and the Egyptian museum in Turin, Italy.
