Philips inks license pact with Acuity Brands
Philips (NYSE:PHG, AEX: PHI) and Acuity Brands Inc (NYSE: AYI) have entered into a license agreement allowing Acuity Brands to access Philips’ LED-based patent portfolio. Philips makes its patent portfolio for LED systems and controls available via a licensing program to third parties in order to foster industry growth.
The agreement will apply to worldwide sales of LED-based luminaires developed and marketed by all of the Acuity Brands businesses. Through the agreement, Acuity Brands will be able to incorporate Philips’ patented technologies related to the development and digital control of LED systems for general lighting, architectural and theatrical applications.
Elaborating on the agreement, Rudy Provoost, CEO, Philips Lighting said, “Philips has significantly invested in the research and development of solid-state lighting, particularly in the past several years. Our wide-ranging IP portfolio reflects the resulting innovations. At the same time, we’re committed to the growth of the industry and have a vested interest in accelerating adoption. We’re therefore very pleased to work with Acuity to stimulate the market and support customer choice by offering new LED lighting solutions to the market.”
This license agreement with Acuity follows earlier agreements of Philips with key lighting players like Zumtobel and Osram. Philips’ licensing program combines many LED luminaire-related inventions of Philips and several of its acquired companies to simplify the use of LED technologies by third parties.