Samsung acquired Novaled for â‚¬260 million (almost $350 million). The deal is actually rather complicated - Samsung Electronics will acquire 40% of the company, Samsung's Cheil Industries will acquire 50% while the remaining 10% is held by Samsung Venture Investment. The â‚¬260 million includes a â‚¬30 million contingent payment, which is conditional to reaching certain milestones.
This puts an end to a long saga which began in early 2012 when Novaled filed for an IPO. This didn't go through and then in March 2013 Novaled was almost bought by Korea's Doosan. Later on it was reported that Cheil Industries are interested in the company and today the deal was signed.
Novaled now reveals that it generated â‚¬26 (almost $35 million) in revenues in 2012. Novaled has a strong IP position (over 500 patents, granted or pending) and supplies materials and technologies to major OLED players.
Disclosure: Novaled is a long-time OLED-Info sponsor. Congratulations my friends!