Oct 3rd, 2011
Samsung invests in Novaled
Samsung Venture Investment Corporation (SVIC), of Seoul, Korea has reportedly become a shareholder of OLED company, Novaled of Germany.
Samsung, which has its own LED company is apparently hedging its bets in the display and lighting markets with its investment OLED technology company, Novaled. Novaled is a key player in OLED technology and organic materials surrounding the emitting materials. The Novaled PIN OLED® technology targets reduced energy consumption and longer lifetimes.
“Our investment in Novaled is consistent with our strategy to work closely with established market leaders.” said Michael Pachos, Senior Investment Manager at SVIC. “Novaled is a technology leader and has built a significant business in the OLED space. The company has demonstrated both a technical and business vision in driving adoption of OLED displays and lighting and we look forward to contributing to the progress of Novaled.”
“SVIC’s investment confirms the importance of our technology and our specific materials for the OLED industry. Samsung’s shareholding will reinforce our leading position and help serve all our customers better.” said Gildas Sorin, Novaled Chief Executive Officer. The details of the deal were not disclosed.
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