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News
Philips Will Acquire Digital Lifestyle Outfitters
Thursday, April 12th, 2007 at 3:00 PM - by John Martellaro
Royal Philips Electronics announced on Friday that they will acquire US-based Digital Lifestyle Outfitters (DLO). The acquisition is subject to regulatory approval and is expected to close in Q2 of 2007.
DLO offers a broad product line of iPod accessories for the home, personal use, the the car.
Philips cited the emerging growth of consumer electronics peripherals in the market: "Peripherals and accessories are among the fastest growing and higher-margin product categories in consumer electronics today, with retailers increasingly looking to offer these products as part of a complete consumer electronics portfolio to their customers."
DLO is a privately held company based on Charleston, SC and Raleigh/Durham, NC. "By teaming up with Philips, DLO will be able to expand outside of the United States, capitalizing on Philips' global distribution network with key retailers," explained Jeff Grady, president and CEO of Digital Lifestyle Outfitters.
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