Large private-equity firms might be proposing to acquire Philips lighting unit for EUR 5.5 billion (US $6 billion), a Bloomberg report cited a person familiar with the matter saying.

Transphorm, an early stage semiconductor company focused on redefining power conversion, today announced a US $70 million investment round led by global investment firm KKR. KKR’s investment follows initial rounds of funding led by funds affiliated with Kleiner Perkins Caufield and Byers, Foundation Capital, Google Ventures, Soros Quantum Strategic Partners, INCJ, Fujitsu, Transphorm will use this funding to support its growth, product innovation and expansion.

KKR & Co. and CVC Capital Partners are nearing an agreement to buy Philips Lumileds, lighting components unit, a Bloomberg report cited a source saying.

Private equity firms CVC and KKR have offered the highest bid for acquiring Philips lighting components business, a Reuters report cited three sources familiar with the matter saying.

NXP Semiconductors N.V.  announced today that it has repurchased 5 million shares of its common stock under its stock repurchase plan announced on February 5, 2014. The shares were repurchased directly from affiliates and from funds managed or advised by KKR in a private transaction at a price per share based on the market closing price.