No it doesn't have a backlight. I'd be more inclined to get something like a HP 3435A or something with an easy to read display, it doesn't have shrouded sockets but. Check out the specs on it. You could possibly pick up 2 good ones and two parts boxes for that price just make sure the battery pack has been removed or is not going to be an issue.
The Philips has a motorized function selector on the inside, and custom probe connector in the front. Parts and ease of repair might be a problem, I think it also has a potential backup battery leak issue on the PCB. I don't like them for some reason, perhaps it's because the Flukes have the vacuum fluorescent displays and look so much easier to read and operate.