Firm to Pay $12 Million for Philips Airvision Assets

BE Aerospace Inc. of Wellington, Fla., said it agreed to pay about $12 million in cash for most of the assets and certain liabilities of Philips Airvision, a Valencia-based manufacturer and marketer of audio and video equipment for airlines. The deal is expected to close sometime this week.

Philips Airvision is a division of Philips Electronics North America Corp., the U.S. subsidiary of Philips Electronics B.V., which is based in the Netherlands. BE Aerospace makes airplane seats and other aircraft cabin products.