TRUMPF acquired Laser Diode Division of Philips.

The high-tech company TRUMPF acquired Laser Diode Division of Philips, a Dutch multinational conglomerate. Financial terms were not disclosed. "With this acquisition, we want to open up new product fields and expand our existing portfolio at a strategically important point," said TRUMPF boss Nicola Leibinger-Kammüller. Through the acquisition, TRUMPF will expand its access to fast-growing markets in the photonics and digital products sectors.