Philips Lighting has acquired the Chinese LiteMagic Technologies. The Chinese company manufactures, among other things, control systems for city lighting. With this acquisition, Philips Lighting hopes to take advantage of the fast-growing market for city lighting in China. The costs associated with the acquisition have not been disclosed.

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Author profile picture Frans van Beveren leads IO on a daily basis. He is fascinated by everything related to technical progress, innovation, sustainability, and industrial design.