Philips Buys Kamen’s Teletrol
Royal Philips Electronics of Amsterdam announced today that it has acquired Teletrol Systems, a Manchester, NH, company that specializes in providing software that automates the management of power and lighting systems in buildings. With 37 employees, Teletrol was founded in 1985 and was wholly owned by Dean Kamen, the famed inventor and founder of DEKA Research and Development in Manchester. Financial details of the sale were not disclosed. According to Philips, the operations of Teletrol will be incorporated into its Philips Lighting unit.