Thomson buys five Philips divisions

17 Jun 2002

Thomson Multimedia of France is to acquire five divisions of Royal Philips Electronics of the Netherlands. The five divisions are part of the Philips Professional Broadcast group and comprise cameras, film imaging, signal processing, media networking and control, and systems. They have a combined turnover of Euro 250 million and 1050 employees.

Under the agreement Thomson will immediately acquire 67% of a new holding company and Philips will have the right to sell its remaining 33% share in two equal tranches in January 2002 and January 2003.