COLOR KINETICS EXTENDS OEM SALES REACH VIA
DISTRIBUTION AGREEMENT WITH
Arrow Electronics to offer Color Kinetics' OEM products in North America, enabling development of complete LED lighting systems with support and services
Boston, MA - December 13, 2006 - Color Kinetics Incorporated (NASDAQ: CLRK), a leading innovator of LED lighting systems and technologies, today announced a distribution agreement with Arrow Electronics, Inc. (NYSE: ARW), an $11 billion provider of electronic components and computer products. The agreement is intended to drive adoption of LED technology by manufacturers across multiple markets. With its broad North American sales network and established base of over 130,000 customers, Arrow will serve as an important channel partner for Color Kinetics' growing OEM business.
Through the agreement, Arrow can distribute Color Kinetics' OEM products, including intelligent RGB and white digital light engines (DLEs), lamps, power/data modules and controllers - essential elements required for a high-performance LED illumination system. Arrow customers will benefit from Color Kinetics' nearly ten years of experience in the field, spanning thermal, optical and binning management, control, power and networking.
"Now more than ever, manufacturers both within and beyond the core lighting industry are exploring ways to incorporate LED technology into their products or introduce entirely new LED-based product lines. Whether for conventional fixtures, automotive lighting, consumer products or toys, LEDs offer indisputable advantages in terms of their long-life, low-power nature and capability for intelligent digital control," said Bill Sims, President and CEO, Color Kinetics. "Rather than trying to be all things to all markets, we're very pleased to align with a powerful distribution partner like Arrow, who can get our technology into the hands of manufacturers in diverse industries."
"We look forward to offering our customers a comprehensive solution to meet a variety of their needs, backed by Color Kinetics' renowned LED-based lighting technology," said Bob Sagebiel, Director of Lighting Business Development, Arrow Electronics, Inc. "Color Kinetics' complete system-based approach can ease the product development process and speed the time to market for our customers. We are looking forward to seeing the innovative products that result from Color Kinetics' core technologies, delivered by Arrow."
Color Kinetics has successfully introduced LED technology into vertical markets through OEM partnerships in entertainment and gaming, aerospace, consumer products, automotive aftermarket lighting, and pool and spa products. Its technology has also been adopted by numerous lighting fixture manufacturers.
About Color Kinetics
Color Kinetics Incorporated (NASDAQ: CLRK) transforms environments through new, dynamic uses of light. Its award-winning lighting systems and technologies apply the benefits of LEDs as a highly efficient, long lasting, environmentally friendly, and inherently digital source of illumination - reinventing light itself as a highly controllable medium. Color Kinetics also enables widespread adoption of LED lighting through OEM and licensing partnerships in diverse markets. The company is headquartered in Boston, MA with offices in the UK, China, and Japan. More information is available at www.colorkinetics.com.
Arrow Electronics (www.arrow.com) is a major global provider of products, services and solutions to industrial and commercial users of electronic components and computer products. Headquartered in Melville, N.Y., Arrow serves as a supply channel partner for nearly 600 suppliers and more than 130,000 original equipment manufacturers, contract manufacturers and commercial customers through a global network of more than 270 locations in 53 countries and territories.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Color Kinetics Incorporated's business that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Readers are cautioned that these statements involve risks and uncertainties, are only predictions and may differ materially from actual future events and results. For a discussion of such risks and uncertainties, see "Risk Factors" in the Company's Annual Report on Form 10-K for the Twelve Months Ended December 31, 2005, File Number 000-50798, and most recent 10-Q, each as filed with the Securities and Exchange Commission.
|For more information or images, please contact:
Philips Color Kinetics