Philips on 24 Feb,2009 announced that an agreement to acquire Ilti Luce SpA, a leading European LED design company for architectural LED interior lighting, based in Italy, has been reached. With the completion of this transaction in the first quarter of 2009, the specific contractual and other conditions as subject to regulatory approvals, is Ilti Luce part of the business with professionals within the lighting division, Philips Lighting. Financial details of the agreement were not mentioned.  "Since its founding 20 years ago has Ilti Luce an excellent reputation with leading architects acquired and delivers innovative lighting design ideas and solutions for the rapidly growing market with sophisticated architectural lighting," said Rudy Provoost, CEO of Philips Lighting. "We are the creative and entrepreneurial spirit

of their enterprise to our range of unique interior lighting solutions to improve," he added. Ilti Luce, headquartered in Turin, Italy, was founded in 1989 and has since become one of the largest manufacturers of LED lighting in Europe. The company is specialized in lighting solutions for indoor specialist, the architect of the design of lighting schemes for buildings such as shops and museums are used. Among the architectural masterpieces, which are illuminated Ilti Luce include the Vatican necropolis in the Vatican City and the Egyptian Museum in Turin. The approximately 30 employees from existing companies was 2008, a growth in the lower double-digit percentage range and a profit margin close to 20 percent of consumption - a performance that took place in the coming years is expected to improve when Luce Ilti take full advantage of the distribution channels of Philips can draw. "Since the founding of Ilti Luce, our aim was particularly advanced architectural lighting solutions," said Carlo Albano, CEO of Ilti Luce. "As part of Philips, we can use advanced lighting technology, which will allow us, our offer for the major market of architectural lighting solutions technically further refine and expand." The acquisition of Ilti Luce strengthens Philips' leadership position in the rapidly growing market for LED lighting. Philips builds on previous acquisitions such as Color Kinetics, Lumileds and TIR Systems, and secures its leadership in the global shift to energy efficient lighting solutions.