First Brands Group, an automotive parts manufacturer, agreed to acquire the lamps and accessories business from Lumileds, a LED manufacturer and solution provider, for $238m. “The automotive OEM lighting go-to-market synergies and conditions that made the union of Lumileds and Philips automotive lighting business so compelling nearly a decade ago have changed as transportation manufacturers have adopted LEDs as their standard light source and traditional automotive light sources have transitioned to primarily an automotive aftermarket business. Our Lamps and Accessories and our LED businesses are industry leaders in their respective markets and will be free to focus on the ongoing growth of their unique brands, channels, and customers,” Steve Barlow, Lumileds CEO.