Philips Acquires Optimum Lighting

Philips Acquires Optimum Lighting

January 5, 2011

Amsterdam, The Netherlands and Henderson, NC, USA – Royal Philips Electronics (AEX: PHI, NYSE: PHG) announced today that it has acquired Optimum Lighting LLC, a privately owned company specializing in customized energy-efficient lighting solutions for the office, industry and retail segments. This acquisition complements Philips’ customer-centric innovation capabilities and strengthens its global leadership position in professional lighting solutions.

“Office lighting uses approximately 30% of the total energy consumption in buildings, so there is a great opportunity to upgrade the older inefficient lighting currently used in the majority of buildings to state-of-the-art energy-efficient solutions,” said Rudy Provoost, Chief Executive Officer of Philips Lighting. “The acquisition of Optimum Lighting further strengthens our overall ability to deliver tailor-made turnkey solutions to our customers that provide superior lighting performance, while reducing their operating expenses.”

About the Seller

Founded in 2005, Optimum Lighting is a manufacturer of energy-efficient lighting fixtures. Optimum specializes in customized solutions of fluorescent fixtures for retail, industrial, commercial and warehouse applications. Headquartered in Henderson, North Carolina, Optimum employs approximately 70 people

About the Purchaser

Royal Philips Electronics of the Netherlands (NYSE: PHG, AEX: PHI) is a diversified health and well-being company, focused on improving people’s lives through timely innovations. As a world leader in healthcare, lifestyle, and lighting, Philips integrates technologies and design into people-centric solutions, based on fundamental customer insights and the brand promise of “sense and simplicity”. Headquartered in the Netherlands