Philips Lighting takes over Chinese light company

Philips Lighting takes over the Chinese light company Shenzhen LiteMagic Technologies.

Philips has announced this on Monday. The Chinese company makes and sells, among other things, façade lighting and control systems.

With this acquisition, Philips Lighting hopes to be better able to respond to the large and fast growing market of city lighting in China.

Financial details about the acquisition have not yet been announced.

Source: Studio040

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