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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Koninklijke Philips NV | NYSE:PHG | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.15 | -0.56% | 26.73 | 151 | 13:38:30 |
From May 2019 to May 2024
By Razak Musah Baba
Diversified health and well-being company Royal Philips (PHIA) said Monday it has signed an agreement regarding the sale of WOOX Innovations, to Gibson Brands, Inc., for $135 million and a brand license fee.
Under the terms, Gibson Brands will pay a brand license fee, relating to a license agreement for an initial period of 7 years, the company said.
The deal is expected to close in the second half of 2014, subject to customary conditions, including regulatory filings and works council procedures.
Philips Chief Executive Officer Frans van Houten said: "With this transaction, we are taking another important step in Philips' transformation to become a leading technology company in health and well-being,"
WOOX Innovations, headquartered in Hong Kong with 1,900 employees worldwide, is Philips' audio, video, multimedia and accessories business.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter: @Raztweet
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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