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Today's Transactions:
Funai Returns as Buyer of Philips’ Home Entertainment Assets

The Japanese technology firm is paying $201M for Philips unit, five years after it picked up DVD operations

By ANTHONY NOTO
January 29, 2013

Japanese technology firm Funai Electric Co. Ltd. agreed to buy the remaining interests in Royal Philips Electronics’ (NYSE: PHG, AEX: PHIA) home entertainment business for $201 million.

Philips, which had already sold its North American TV and DVD operations to the Osaka, Japan-based buyer in 2008, is divesting the rest of its lifestyle entertainment division, which includes global disc players and its Fidelio high-end audio business.

The sale is part of Philips’ plan to focus more technology in other sectors, namely health and well-being. 

Philips is headquartered in Amsterdam while the lifestyle entertainment unit is located in Hong Kong. 

 

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