Samsung and subsidiary Cheil Industries acquire Dresden spin-out Novaled.
Smartphone manufacturer Samsung and its display manufacturer subsidiary Cheil Industries have acquired Organic Light Emitting Diode (OLED) manufacturer Novaled, confirming speculation of acquisition from last week.
In a transaction that values Novaled at €260m ($345m), Cheil acquired 50% of the firm. Samsung itself will pick up 40% while the firm’s venture unit, Samsung Venture Investment, will retain its original 10% stake.
Germany-based Novaled was founded in 2001 as a spin-out from the Technical University and the Fraunhofer Institute…
