Amsterdam, the Netherlands and Budwin Park, California - Royal Philips Electronics (AEX: PHI, NYSE: PHG) announced on October 11 that it will acquire LightingTechnologies International (LTI), a US manufacturer of high-intensity xenon lamps for the entertainment industry. The acquisition is expected to be completed in the fourth quarter of this year, after which LTI will become a member of the Philips Special Light Source Division.
Founded in 1999, LTI has grown rapidly to become a leading supplier of cinema lighting in the United States. Its patented high-strength Helios® xenon lamp has a unique energy-saving design that provides lower energy consumption while providing the same lighting as other high-intensity lamps, saving 30% in operating costs. In addition, the heat dissipation of the Helios xenon lamp is also very low, which is convenient for application on film film, especially for film screening.
According to reports, LTI will improve the Philips Xenon lamp product segmentation in high-intensity xenon lamps, as Philips Xenon lamps currently do not contain high-strength products.
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