Lumileds is officially an independent company

Lumileds announced that funds affiliated with investment firm Apollo Global Management (New York City, NY) and Royal Philips (Amsterdam, Netherlands) have been transferred to complete their previously disclosed transaction (see below), resulting in Lumileds operating as an independent company. Lumileds develops lighting LEDs for the automotive, mobile, Internet of Things (IoT), and illumination markets. Lumileds began as part of Royal Philips; in 2014, Royal Philips split into two companies, one concentrating on LED lighting (Lumileds) and the other on health care and consumer lifestyle (Royal Philips). Lumileds was owned by Royal Philips.