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[Alpha Biz=(Chicago) Reporter Paul Lee] The merger and acquisition process for Samsung Display's US microdisplay company 'eMagin' has finally been completed.
"Samsung Display acquired all Imagine shares in cash for $2.08 per share," said the chief executive officer (CEO) of eMagin. "Based on cooperation, we will improve production capacity such as yield, efficiency and quality and accelerate the development of 'dPd' technology." Direct patterning technology is considered a key technology for micro light emitting diodes (LEDs).
eMagin plans to maintain its existing facilities in Hopewell, New York, even if it is acquired by Samsung Display. With the eMagin merger and acquisition, Samsung Display is expected to secure OLEDoS technology with great market potential in a short period of time and gain an advantage in responding to the XR market in the future.
eMagin has approved mergers and acquisitions with Samsung Display at a shareholders' meeting held online on August 31.
eMagin is a microdisplay company founded in New York in 1996 and produces products in various fields such as augmented reality (AR), virtual reality (VR), and aircraft helmets. Last year's sales were $ 30 million (about 40.5 billion won).
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
