Global Sources
EE Times-Asia
Stay in touch with EE Times Asia
 
EE Times-Asia > Optoelectronics/Displays
 
 
Optoelectronics/Displays  

Sumitomo moves to acquire P-OLED pioneer CDT

Posted: 03 Aug 2007  Print Version  Bookmark and Share

Keywords:P-OLED  display technology  polymer OLED  merger 

Sumitomo Chemical Co. Ltd is set to buy polymer OLED (P-OLED) pioneer Cambridge Display Technology Inc. (CDT) of the United Kingdom for an estimated $285 million. Under the merger agreement, the Japanese company will acquire all outstanding shares of the CDT common stock at a price of $12 per share in cash.

David Fyfe, chairman and chief executive of CDT, said the deal would propel the company's technology into bigger markets. ''I believe that the acquisition of CDT by Sumitomo Chemical will significantly enhance the prospects for P-OLED technology adoption, especially as P-OLED is looking ever more likely to become the next mainstream display technology,'' he said in a statement.

CDT and Sumitomo Chemical have developed a close relationship since Sumitomo acquired a license to certain IP from CDT in 2001, culminating in the formation of a

joint venture in 2005 to develop, manufacture and sell P-OLED materials to CDT licensees and others.

Completion of the merger is subject to CDT stockholder approval and other customary closing conditions. The acquisition is expected to close later this year.

- Mark LaPedus
EE Times




Article Comments - Sumitomo moves to acquire P-OLED pio...
Comments:  
*  You can enter [0] more charecters.
*Verify code:
 
 
Webinars

Seminars

Visit Asia Webinars to learn about the latest in technology and get practical design tips.

 
 
Back to Top