A couple of months ago we reported that printed electronics developer Plextronics filed for chapter 11 bankruptcy protection as they failed to find a buyer or an investor.

Plextronics Inks photo

Today Solvay (an investor in Plextronics together with Samsung and Universal Display) announced that they acquired Plextronics. Solvay did not reveal the financial details but in January it was reported that Solvay offered $24 million to extinguish debt and $8.5 in cash to acquire the company.

As part of their expansion into the OLED market, Solvay will also setup a new electronics laboratory at its research center at Ewha Woman’s University in Seoul City, South Korea. Solvay hopes that the newly formed Solvay OLED Incubator will strengthen their presence in Asia and help them evolve into new businesses.

Plextronics was founded in 2002 as a spin-out from Carnegie Mellon University. In March 2011 we posted an interview with Plextronic's CEO, Andy Hannah. In July 2012 UDC and Plextronics signed a three-year strategic alliance to develop and commercialize soluble OLED material systems.

Source: 
Tags:

Comments

Solvay

Wonder how Samsung and UDC fit in this deal, are they creditors or part of the deal??

Solvay

In line its expansion into OLED markets, Solvay is in the process of establishing up a new electronics laboratory at its research centre at Ewha Woman's University in Seoul City / South Korea. The facility is designed to bring the company’s advanced solutions closer to market and speed up joint development activities with customers as well as with existing and potential partners.Published on 27.03.2014http://www.plasteurope.com/news/SOLVAY_t227888

The 4th International TADF Workshop 2019The 4th International TADF Workshop 2019