Philips Announces Divestment Of Advanced Metrology Systems Business Unit

Amsterdam, The Netherlands and Boston, MA — Royal Philips Electronics and JHW Greentree Capital have announced Philips has sold its Advanced Metrology Systems business unit to JHW Greentree Capital, L.P., an affiliate of J.H. Whitney & Co. of New Canaan, Connecticut. The business unit will form a new company called Advanced Metrology Systems LLC. As part of the transaction, Philips will retain a 19.9% stake in the new company. No further financial details of the transaction were disclosed.

Philips' Advanced Metrology Systems business unit produces measuring equipment for the semiconductor manufacturing industry. Based near Boston, Massachusetts and employing approximately 35 people, Philips' Advanced Metrology Systems business unit formed part of Philips Corporate Investments.

SOURCE: Philips