Royal Philips Electronics has officially announced the sales of its Philips Optical Media & Technology (OM&T) activities to Moser Baer India Ltd, a company which is considered a world leader in the development of removable data storage media, including CD, DVD and LightScribe CD-R media.
The transfer will effectively help Moser Baer lead in Blu-ray disc technology and manufacture due to OM&T specialising in Blu-ray disc manufacturing and having state-of-the-art Blu-ray disc testing and manufacturing capabilities, including highly qualified scientists and engineers. OM&T will also help Moser Baer with entry into the Test Disc market due to OM&T being a leading player in this area. These test discs enable manufacturers to test and calibrate their drives.
This sale which went for an undisclosed amount is an aim for Royal Philips Electronics to focus more on Healthcare, Lifestyle and Technology activities, such as energy efficient light solutions, home appliances, consumer electronics, medical equipment and so on. This transfer of ownership has been backdated to as of January 1st, 2007.
The full press release can be read here at Moser Baer. Thanks to reviewer MegaDETH for letting us know about this press release.
