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. Omni Remotes will continue to meet the demand for 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.
“This is a new and exciting milestone for our entire team. 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”, said Jean-Paul Abrams, president of Omni Remotes.
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