IBC 2015: Phillips Home Control spins off into Omni Remotes
| 14 September 2015
After 25 years with Philips, the Home Control division has left the fold.
Following the recent divestment of the Home Control division from Royal Philips, the newly formed company is now fully owned by Morgan Stanley Private Equity Asia (MSPEA) and will operate under the commercial name Omni Remotes.
The new company will focus on simplified home control solutions, driven by ever more online and stored multimedia content, the proliferation of A/V devices, the growth in wireless home networks and the emergence of home automation applications and the Internet of Things (IoT).
"This is a new and exciting milestone for our entire team," said Jean-Paul Abrams, president of Omni Remotes. "As an independent company, we are better placed to make the strategic choices that ensure we meet our customer needs to the fullest extent. And with the full backing of Morgan Stanley we are in the best position to grow our company to the next level."
He added, "We will still use the 'founded by Philips' tagline to emphasize the 25 years of experience and competence we have built-up."