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BOSTON and DANVERS, Mass., Oct. 3 /PRNewswire-FirstCall/ -- Color Kinetics Incorporated (Nasdaq: CLRK) and OSRAM SYLVANIA today announced an agreement whereby OSRAM SYLVANIA will license Color Kinetics' patents for a product to be marketed by Gotham Architectural Downlighting, an Acuity Brands company.
Under the license, OSRAM SYLVANIA will create an intelligent, multi-color light-emitting diode (LED) system for Gotham. The global license will apply to sales of this product in all markets covered by Color Kinetics' patent portfolio.
"This is a significant agreement for Color Kinetics," said Bill Sims ,President and CEO, Color Kinetics. "Earning the OSRAM SYLVANIA stamp of validation sends a strong message to the industry, and reaffirms the value ofthe innovations protected by our broad patent portfolio."
"The lighting industry is undergoing dramatic change as LED sources influence the design of completely new products and applications," Sims added."The power of our proprietary control methods makes it possible to customize environments with light as never before, and we're excited to see these techniques being adopted by long-established leaders in the lighting industry."
"We are pleased to have the opportunity to license the Color Kineticspatents for this OEM opportunity," said Sameer Sodhi, general manager of the OSRAM SYLVANIA LED Systems division. "LEDs offer exceptional flexibility inthe creation of new and unique lighting fixtures. Through this agreement, weare able to provide a complete LED system solution meeting the high standards of our OEM customer. This system is an important new product for OSRAMSYLVANIA and reflects our company's focus on developing customized LED solutions."