iColor Accent Powercore is suited for creating seamless columns of color and color-changing effects (Source: Philips Electronics)

Philips Electronics will acquire all of the outstanding shares of Color Kinetics for a total consideration of approximately EUR 592 million to be paid in cash upon completion. The implied enterprise value of Color Kinetics in this offer is EUR 516 million, taking into account approximately EUR 76 million of cash on balance sheet as of March 31, 2007. Color Kinetics, based in Boston, Massachusetts, USA, is a designer of lighting systems based on Light Emitting Diode (LED) technology. This merger builds on the acquisition of Lumileds in 2005, through which Philips ensured a leading position in high-power LED dyes, and on the recent acquisition of TIR Systems, which provided Philips with a line of fully-integrated Solid State Lighting (SSL)-modules. Color Kinetics had 2006 sales of approximately USD 65 million.