Royal Philips Electronics has agreed to acquire Italy-based Luceplan, a leading consumer luminaires company in the lighting design segment in Europe.

Upon closing of this transaction in the second quarter of 2010, which is subject to certain conditions, Luceplan will become part of the consumer luminaires business in the Philips lighting sector.

Financial details of the agreement were not disclosed.

“With the acquisition of Luceplan we are acquiring an iconic design brand in the premium design segment which enjoys higher growth rates and margins than the overall consumer lighting market,” said Allard Bijlsma, chief executive officer of Philips Lighting Consumer Luminaires.

“Design will be an important differentiating factor in the consumer luminaires segment, driven by the increased use of LEDs in luminaires, as designers are no longer restricted by the form factor of the legacy incandescent light bulb,” he added.

Luceplan’s luminaires portfolio includes table, suspension, wall and ceiling products for residential applications, which are also used in some professional applications.

The company was founded in 1978 and is headquartered in Milan, Italy where it employs about 110 employees.

“Luceplan’s relationship with Philips reflects shared principles, which seek to address ever changing human needs," said Riccardo Sarfatti, the company’s founder.

“Bringing together design and new light sources - LED above all - is a thrilling project which allows Luceplan to play a key role within Philips in the creation of lighting fixtures.”

Differentiation and innovation in the luminaires segment is one of the key pillars of Philips’ strategy for growth in the lighting market.

The acquisition of Luceplan adds to Philips’ leading position in the consumer luminaires market and further secures Philips’ position to lead the global shift to energy-efficient lighting and LED-based lighting solutions, a statement said. – TradeArabia News Service