Philips sells automation businesses

Advent International, a Boston-based private investor with about $3 billion in assets and active interests in 30 countries, recently took over Philips Industrial Automation Systems (IAS) and nine other Philips subsidiaries in early 1998. The 10 companies are collectively organized for financial purposes into Panta Holding (Amersfoort, the Netherlands).

05/01/1998


Advent International, a Boston-based private investor with about $3 billion in assets and active interests in 30 countries, recently took over Philips Industrial Automation Systems (IAS) and nine other Philips subsidiaries in early 1998. The 10 companies are collectively organized for financial purposes into Panta Holding (Amersfoort, the Netherlands). One of the few things they have in common is that they don't fit into Philips' core strategy of consumer electronics. The former Philips IAS is now known as Nyquist Industrial Control. From its debut in 1970, the former division of Philips developed its expertise in VME-bus based PLC applications for the semiconductor and motion control industries.





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