Philips Lighting has acquired the Chinese LiteMagic Technologies. The Chinese company manufactures, among other things, control systems for city lighting. With this acquisition, Philips Lighting hopes to take advantage of the fast-growing market for city lighting in China. The costs associated with the acquisition have not been disclosed.<\/p>\n
\u201cThe acquisition is in line with our global strategy to grow both organically and through selected acquisitions,\u201d said Harsh Chitale, Business Group Leader Professional at Philips Lighting. \u201cUrban lighting is a growing and attractive market and with the acquisition of LiteMagic Technologies we are strengthening our leadership position.\u201d
\n\u201cLiteMagic Technologies has a strong foothold in many cities in China and significant expertise in urban lighting. Together we will bring our complementary and comprehensive portfolio of products, systems and services to the growing number of cities in China looking to turn buildings, bridges and boulevards into beautiful public spaces at night,\u201d adds John Wang, Market Group Leader Greater China at Philips Lighting.<\/p>\n
The acquisition is subject to approval by the Chinese regulatory authorities. Philips Lighting expects the acquisition to be completed in the third quarter of this year.<\/p>\n","protected":false},"excerpt":{"rendered":"
Philips Lighting has acquired the Chinese LiteMagic Technologies. The Chinese company manufactures, among other things, control systems for city lighting. With this acquisition, Philips Lighting hopes to take advantage of the fast-growing market for city lighting in China. The costs associated with the acquisition have not been disclosed. \u201cThe acquisition is in line with our […]<\/p>\n","protected":false},"author":1632,"featured_media":521618,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"categories":[42],"tags":[482,5153,23100],"location":[],"article_type":[],"serie":[],"archives":[],"internal_archives":[],"reboot-archive":[],"class_list":["post-141488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sustainability-nl","tag-economy","tag-philips-lighting","tag-signify"],"blocksy_meta":[],"acf":{"subtitle":"","text_display_homepage":false},"author_meta":{"display_name":"Frans van Beveren","author_link":"https:\/\/ioplus.nl\/archive\/author\/frans-van-beveren\/"},"featured_img":"https:\/\/ioplus.nl\/archive\/wp-content\/uploads\/2017\/06\/IMG_20170619_105755-300x225.jpg","coauthors":[],"tax_additional":{"categories":{"linked":["Sustainability<\/a>"],"unlinked":["Sustainability<\/span>"]},"tags":{"linked":["economy<\/a>","Philips Lighting<\/a>","Signify<\/a>"],"unlinked":["economy<\/span>","Philips Lighting<\/span>","Signify<\/span>"]}},"comment_count":"0","relative_dates":{"created":"Posted 8 years ago","modified":"Updated 8 years ago"},"absolute_dates":{"created":"Posted on May 15, 2018","modified":"Updated on May 15, 2018"},"absolute_dates_time":{"created":"Posted on May 15, 2018 11:18 am","modified":"Updated on May 15, 2018 11:18 am"},"featured_img_caption":"","series_order":"","_links":{"self":[{"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/posts\/141488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/users\/1632"}],"replies":[{"embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/comments?post=141488"}],"version-history":[{"count":0,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/posts\/141488\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/media\/521618"}],"wp:attachment":[{"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/media?parent=141488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/categories?post=141488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/tags?post=141488"},{"taxonomy":"location","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/location?post=141488"},{"taxonomy":"article_type","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/article_type?post=141488"},{"taxonomy":"serie","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/serie?post=141488"},{"taxonomy":"archives","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/archives?post=141488"},{"taxonomy":"internal_archives","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/internal_archives?post=141488"},{"taxonomy":"reboot-archive","embeddable":true,"href":"https:\/\/ioplus.nl\/archive\/wp-json\/wp\/v2\/reboot-archive?post=141488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}