Philips and TPV Technology have reached an agreement on the conditions of a brand-licensing contract under which Philips will transfer its PC monitors business, IT Displays, to TPV.
Under the terms of the agreement, TPV will be responsible for the sourcing, distribution, marketing and sales of all Philips’ IT Displays activities worldwide. IT Displays sales were worth €600m in 2007.
Other conditions allow TPV to exclusively use the Philips brand name for PC monitors and in return Philips will receive revenue-based royalty payments.
The transaction is expected to be completed this year, subject to regulatory approvals and the fulfilment of specific closing conditions.
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