Royal Philips Electronics has sold its Communication, Security and Imaging (CSI) business.
Royal Philips Electronics has sold its Communication, Security and Imaging (CSI) business, which includes CCTV, to German firm Bosch. Completion of the sale is expected later this year. Financial details were not disclosed. Philips CSI, based in the Netherlands, operates in 35 countries and employing about 1,300, all of whom will transfer to Bosch. Philips CSI had sales of more than 300m euros in 2001. Philips CSI will be placed within Bosch Sicherheitssysteme GmbH. Bosch?s video surveillance business already employs 4,200 people. Bosch reports this acquisition will give it access to international markets for security systems, especially in North America, South East Asia and China. Visit www.philips.com and www.bosch.de
