Moser Baer, an India-based leading optical storage device provider, announced on February 6 that it has acquired a 81% stake in Philips OM&T (Optical Media & Technology), a wholly-owned subsidiary of Netherlands-based Philips. Under the agreement, Moser Baer will leverage OM&T's Blu-ray technology, while Philips will devote more efforts on its healthcare, lifestyle and Technology businesses. The deal was effective from January 1, 2007. Financial details of this deal were not yet disclosed.