Philips sells Ommic to Financière Victoire of France

Amsterdam, the Netherlands – Royal Philips Electronics (NYSE: PHG, AEX: PHI) today announced it has sold its controlling stake in Ommic S.A.S. to Financière Victoire SAS of France for an undisclosed amount. Ommic develops and manufactures semiconductor wafers based on gallium arsenide technology for specific applications such as wireless telecoms infrastructure, optical networks and automotive mobile TV.

The sale of Ommic represents another step Philips is taking to focus on its Healthcare, Lifestyle and Technology activities supported by the strength of the company’s brand. Ommic, which employs approximately 75 people, is part of Philips’ Corporate Investments portfolio and will remain based in Paris and subject to French law and governance. The sale closed today.