OLED driver IC developer MagnaChip announced that it is being acquired by China-based Wise Road Capital, for $1.4 billion. This price is about 75% higher than Magnachip's three-month average share price. The deal still needs regulatory approval in the United States.

Magnachip drivers and chips photo

In recent years Magnachip reported increased AMOLED driver sales and accelerated its driver R&D. Last month the company announced that it has started to mass produce its first OLED driver ICs for 120Hz QHD smartphone flexible OLED displays.

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