Dutch businessman Marcel Boekhoorn has completed the purchase of Philips’ High Tech Campus science park in Eindhoven for €425m, the consumer electronics giant confirmed on Thursday afternoon.

The deal is said to be the biggest property transaction in the Netherlands and has taken four years to complete. The business park covers 103 hectares and some 100 companies and 8,000 researchers are currently based there.
Philips established the science park in 1998 to act as a single location for all its national R&D activities. In 2003 it was opened to other technology companies.