Interactive multimedia developer Veon, whose research and development team is in Herzliya, has been acquired by Royal Philips Electronics of the Netherlands. Israel.internet.com reports that financial details of the deal were not released, but that published reports estimate the deal to be worth $30-$50 million. Veon develops internet interactive film and video, with an eye to e-commerce applications. The VeonPlayer allows users to click on images in a video feed to obtain additional information. Royal Philips Electronics is Europe\'s largest electronics company, with sales of $34.9 billion in 2000.