// IP Marketing video - START// IP Marketing video - END

Philips sells its audiovisual equipment business to Gibson

Philips sells its audiovisual equipment business to Gibson

PanARMENIAN.Net - Dutch technology company Philips says it has struck a deal with music company Gibson Brands of the U.S. to sell its audiovisual equipment business for $135 million, according to the Associated Press.

Philips is still locked in arbitration with Japan's Funai after a similar deal to sell the same businesses for $200 million fell apart last year, but said that won't affect the new agreement.

The companies said the deal makes sense as Gibson is big in Japan and the U.S., while Philips is strong in Europe, China and Latin America.

The audiovisual equipment business employs some 1,900 people and makes home audio systems, headphones, speakers, portable audio and video players, media players, telephones and more.

It turned a marginal $4.1 million (3 million euro) profit in 2013, on sales of $1.3 billion.

 Top stories
Apple's application for an "Electronic accessory device" describes the company's take on an oft-attempted, but never fully realized idea.
The deal may be months away from being finalized, but Spotify is said to have cleared this particular clause with major record labels.
Much like real synapses, the algorithm (Elastic Weight Consideration) decides how important a given connection is to its associated task.
many of the songs, albums, and movies are all recent releases, which speaks to the popularity of that content and increased Android growth.
Partner news