Samsung Electronics and its affiliate Chiel Industries have taken over Dresden-based Novaled, a leader in OLED materials and technology. Samsung has acquired around 40 per cent of the company's shares, while Chiel Industries has around 50 per cent; the remaining shares will be held by Samsung Venture Investment.
Novaled, founded in Germany in 2001, is a pioneer in OLED, offering customised display and lighting solutions to manufacturers. It is also committed to research and development, with more than 500 patents granted or pending, and the new owners plan to build on this, concentrating a major part of their OLED R&D strategy in Dresden.
Ingo Maurer Four Times Four Black with Novaled OLEDs
Jong-Woo Park, CEO of Cheil Industries said: "This acquisition is expected to generate significant synergy in new-generation OLED materials R&D and will play a critical role in enhancing Cheil Industries' market position as a global leader in electronic materials."
The purchase will not only give Samsung access to cutting edge organic LED technology for its next generation smartphone displays, but could have benefits for the company's lighting business.
A spokesman for Samsung told Lighting: "We hope to expand our leadership in the OLED market by fortifying our capabilities in this area."
Novaled's CEO, Gildas Sorin, said: "With the support of its financial investors and public stakeholders Novaled has developed to an OLED world leader position.
We are very pleased to welcome Cheil Industries and Samsung Electronics as our new owners. Cheil Industries and Novaled are complementary – the alliance will help both parties to contribute and fully leverage its strengths for the benefit of the whole OLED industry."
The move values Novaled at €260 million (£222.6 million) and is subject to approval from the relevant authorities.
