Royal Philips Electronics has acquired Shanghai Apex Electronics Technology, a manufacturer of ultrasound transducers, based in Shanghai, China, in order for Philips to increase its portfolio of transducers aimed at the emerging markets.
Apex, founded in 1998, employs more than 130 people. Financial details of the acquisition were not disclosed.
The acquisition marks another step in Philips’ expansion in emerging markets. Most recently, in 2010, Philips acquired healthcare informatics company Tecso Informatica in Brazil and established a partnership with medical equipment manufacturer Electron for the development of healthcare products in Russia.