Koninklijke Philips N.V.
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Publicatie datum
03 jul 2006 - 08:07
Statutaire naam
Koninklijke Philips N.V.
Titel
Philips acquires Power Sentry, a leading U.S. electronics peripherals & accessories supplier
Bericht
July 3, 2006
PHILIPS ACQUIRES POWER SENTRY, A LEADING U.S. ELECTRONICS PERIPHERALS & ACCESSORIES SUPPLIER
Amsterdam, the Netherlands and Madison, Wisconsin – Royal Philips Electronics (NYSE:PHG, AEX: PHI) and Fiskars Brands Inc., a global manufacturer of consumer and commercial products, announced today that Philips acquired Power Sentry – a division of Fiskars Brands Inc. Based in Plymouth, Minnesota, Power Sentry is the number two player in the North American plug-in power surge protector market with sales in 2005 of approximately USD 50 million. The transaction is completed. No further financial details were disclosed.
In 2005, the global plug-in power surge protector market was valued at approximately USD 640 million, with the United States representing approximately 80% of the global market. It is estimated that over the next five years the global market will grow annually by approximately 9%, with higher growth rates expected in Europe, Asia and Latin America as awareness of the potential benefits of these products spreads.
Accessories and peripherals are some of the fastest growing and higher-margin product categories in consumer electronics today, with retailers increasingly looking to offer these products as part of a complete consumer electronics portfolio to their customers. "Power Sentry has a proven track record in growing its position in the North American plug-in power surge protector market," said Rudy Provoost, CEO of Philips Consumer Electronics. "This acquisition fits Philips' aim to become a top three global player in the audio-visual, PC and mobility accessory market, builds on our earlier acquisition of U.S. accessories supplier Gemini and allows us to leverage Philips' global presence to extend Power Sentry’s activities beyond its North American base," he added.
"We look forward to further growing the business as part of Philips' global organization," said Mark Schaffner, president of Power Sentry. "And with Philips' backing – includi
Datum laatste update: 19 december 2025