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Philips Buys Digital Lifestyle Outfitters; No Terms Disclosed

Royal Philips Electronics said Friday it will buy Digital Lifestyle Outfitters, a U.S. maker of cases and cables for electronics equipment, for an undisclosed sum.

Philips said in a statement the Charleston, South Carolina-based company had sales of around $100 million (75 million euros) in 2006. Philips expects the acquisition to strengthen its position in "peripheral" products that accompany mobile or portable electronics equipment.

"DLO designs, markets and distributes accessories, including docking stations, FM transmitters, cables and cases for mobile audiovisual devices such as MP3 and video players," Philips said.

Amsterdam-based Philips expects to complete the deal in the second quarter of 2007, pending regulatory approval.