Agilent completes sale of stake in Lumileds

High-power LED specialist Lumileds Lighting is now officially part of Philips.

Nov 30th, 2005
Agilent Technologies has completed the sale of its stake in high-power LED maker Lumileds Lighting International B.V. to Royal Philips Electronics for approximately $950 million, plus repayment of $50 million of debt from Lumileds.

The divestiture is one in a series of actions announced by Agilent on August 15, 2005, designed to enhance the company's focus as a pure-play measurement company.

For more details, see Philips takes control of LED maker Lumileds Lighting and Analysis: Philips acquires controlling stake in Lumileds.

Agilent has also sold its semiconductor division, including its LED business, to two private equity companies -- Kohlberg Kravis Roberts & Co. of New York City and Silver Lake Partners of Menlo Park -- for $2.66 billion.

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