Royal Philips (AEX: PHI, NYSE: PHG) announced today that it has acquired New Zealand-based Selecon, a global designer, manufacturer and distributor of professional theatrical and architectural lighting fixtures. Under the terms of the agreement, Philips will acquire the business assets of Selecon New Zealand Limited, Selecon UK Limited, Selecon North America LLC, and Aureol Lighting Limited. No financial details on the transaction were disclosed. "We were approached by Philips because of ...
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