Focus on Intelligent PHILPS to sell part of the OLED light source device business

[LED] the United States OLED light engine and panel manufacturing company OLEDWorks 29 announced that it reached an agreement with PHILPS, the acquisition of some of its OLED light source device business.

In the coming months, PHILPS will set up a new company and transfer the core of its OLED business, including production equipment and related intellectual property rights in Aachen, germany. All the shares of the new company will be sold to OLEDWorks. Once the new company is established, OLEDWorks will be licensed to PHILPS's brand to sell its OLED PHILPS light source device products.

OLEDWorks CEO David DeJoy said: the acquisition of PHILPS OLED lighting technology, manufacturing and OEM sales channels, can help us to apply high-performance OLED light engine to a wider range of lighting panel products. "

PHILPS lighting CEO Eric Rondolat said: to follow the strategic focus of PHILPS, we decided to sell the OLED device business to a professional partner. In this way, we will be able to focus on business and resources to develop innovative intelligent lighting systems. "

OLEDWorks, founded in 2010, headquartered in New York, Rochester, is a OLED light engine and panel manufacturer. (/LED net Flora)

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