28 Apr 2015 / OLEDWorks /

OLEDWorks to buy the key parts of Philips OLED light source

OLEDWorks LLC, the leading U.S. OLED light engine and panel manufacturing company, today announced that it reached an agreement with Royal Philips (NYSE: PHG; AEX: PHIA), the global leader in lighting, to buy selected parts of its OLED light source components business. Over the coming months, Philips will establish a new legal entity and transfer key parts of its OLED business, including the production facility located in Aachen, Germany, and relevant intellectual property, into it. All shares of the new entity will subsequently be sold to OLEDWorks LLC. Once the new company has been established, OLEDWorks will be granted a license by Philips to market its OLED light source components under the Philips brand. Philips will remain a distributor of the panels through its OEM sales channels.

“The acquisition of strategic elements of Philips OLED lighting technology, manufacturing and OEM sales channels significantly broadens our mission to deliver high performance OLED light engines to a wide range of lighting applications,” said David DeJoy, CEO OLEDWorks. “The team in Aachen brings OLED expertise in production of quality high brightness panels that complements the OLED heritage and manufacturing innovation of our Rochester team. With our new, expanded team, OLEDWorks will continue to introduce exciting and novel OLED lighting modules that enable, and inspire, innovative luminaire designs. Existing customers will realize continued reliability in performance, delivery and collaboration; new customers can develop differentiated final products with the same support.” “In pursuance of our strategic focus we have decided to divest our OLED components development and production to a specialized partner. This will enable us to focus our business and resources on developing innovative connected lighting systems and services for professional and consumer markets. We are very pleased that with OLEDWorks we have a strong and solid partner to take OLED lighting panel production to the next level,” said Eric Rondolat, CEO Philips Lighting. “Philips sees the merit of OLED as a light source for specific applications in its systems and services portfolio and will continue to apply OLEDWorks’ panels in its finished products.”

top
Leave your comment
No comments yet.
Lighting Directory
Videos
Activity Based Lighting in Offices
Flexible OLED light panel

Upcoming Events

Feb
27
Strategies in Light
In its 20th year of serving the LED and SSL lighting markets with superior technical content and an exhibition showcasing the latest in innovative technologies, products and services, Strategies in Light is relied upon by thousands of attendees and exhibitors each year for need-to-know information on the future of lighting.
Feb
27
The LED Show
The LED Show showcases the latest advancements in commercial, residential and retail SSL technology, bringing together designers, engineers, home builders, specifiers, manufacturers and investors from around the world.  Featuring a variety of high-impact sessions addressing new strategies in manufacturing, design, testing, color definition, controls, final assembly and more, The LED Show brings the design and end user aspects of lighting to life.
Mar
05
Expo Lighting America
Expo Lighting America is the annual meeting where designers, architects, large consumers, government representatives and lighting lovers acquire first-hand experience of the trends and innovations in design and technology that enhance their knowledge and inspire new creations.
Mar
12
LEDucation
The Designers Lighting Forum of New York is committed to exploring and presenting the power of lighting in design. Founded in 1934, the Designers Lighting Forum is a not-for-profit organization, led by a volunteer Board of Managers and sustained by member dues and the generous support of our corporate sponsors.

New manufacturers

Partners
Premium Fairs Partners