A leading Indian high-tech company has purchased Philips Electronics NV's Optical Media & Technology BV, which develops DVDs and Blu-ray technology for the optical disc industry.
New Delhi-based Moser Baer India Ltd., already a global optical media manufacturing leader, bought the Philips R&D operation, which employs 50 in Eindhoven, the Netherlands. OM&T had 2006 sales of 10 million euros ($13 million ).
The deal means Moser Baer will control the only company outside Japan shipping Blu-ray discs.
The company expects the acquisition to enhance its own development work in solar photovoltaic technologies.
``This acquisition is a major strategic milestone for Moser Baer,'' said the Indian group's executive director, Ratul Puri.
Moser Baer claims to be the No. 2 player in the global optical media market.
The company manufactures floppy disks, CDs and DVDs, employs 4,500 and operates four plants, all centered around Noida, India.