Philips acquires Agilent’s stake in Lumileds

Philips has agreed to purchase Agilent Technologies 47% stake in LED developer Lumileds Lighting for Euro 765 million, thereby acquiring a 96% interest in the company, with the remainder owned by an employee trust. Lumileds was formed in 1999 as a joint venture between Philips and Agilent. Lumileds’ products are used in automotive lighting, among other applications.