Agilent to sell Lumileds to Philips

Aug. 15, 2005
August 15, 2005, Palo Alto, CA--As part of a larger effort to divest its semiconductor-related businesses and thereby "enhance shareholder value," Agilent Technologies has signed a definitive agreement to sell its 47% stake in Lumileds to Royal Philips Electronics for $950 million.

August 15, 2005, Palo Alto, CA--As part of a larger effort to divest its semiconductor-related businesses and thereby "enhance shareholder value," Agilent Technologies has signed a definitive agreement to sell its 47% stake in Lumileds to Royal Philips Electronics for $950 million plus repayment of $50 million of debt from Lumileds. The deal will give Philips a controlling stake of 96.5% in Lumileds; Lumileds employees will own the remaining 3.5%.

Founded in 1999 as a joint venture between Agilent and Philips, Lumileds makes LED chips and packaged LEDs, including the high-power Luxeon light sources. Philips is reportedly most interested in the high-power Luxeon product line for lighting applications. Lumileds had sales of $324 million and operating profit of $83 million over the last 12 months.

In addition, as part of its repositioning as a "pure play" measurement company, Agilent has also signed an agreement to divest its Semiconductor Products segment to Kohlberg Kravis Roberts & Co. and Silver Lake Partners for $2.66 billion, and plans to spin off its SOC and Memory Test businesses as soon as practical in 2006. Agilent's semiconductor division includes optical transceivers, fiberoptic components, and low-brightness LED manufacturing facilities.

Agilent also announced that it expects to cut 1300 jobs worldwide.

Sponsored Recommendations

Request a free Micro 3D Printed sample part

April 11, 2024
The best way to understand the part quality we can achieve is by seeing it first-hand. Request a free 3D printed high-precision sample part.

How to Tune Servo Systems: The Basics

April 10, 2024
Learn how to tune a servo system using frequency-based tools to meet system specifications by watching our webinar!

Motion Scan and Data Collection Methods for Electro-Optic System Testing

April 10, 2024
Learn how different scanning patterns and approaches can be used in measuring an electro-optic sensor performance, by reading our whitepaper here!

How Precision Motion Systems are Shaping the Future of Semiconductor Manufacturing

March 28, 2024
This article highlights the pivotal role precision motion systems play in supporting the latest semiconductor manufacturing trends.

Voice your opinion!

To join the conversation, and become an exclusive member of Laser Focus World, create an account today!