Samsung will acquire German OLED maker Novaled for $347 million, according to a report published Friday. Samsung itself is already a huge provider of OLED and AMOLED panels, particularly for mobile devices such as smartphones and tablets, but the deal could help it spread its wings further into larger displays – such as those used for HDTVs. Samsung already has a major OLED TV business, but its televisions are so expensive most consumers are priced out of buying them.
The Wall Street Journal, which broke the news, said that Samsung is going to buy the firm through one of its affiliates that operates under the name Cheil. Cheil will hold a 50 percent stake in the company, Samsung Electronics will hold 40 percent, and the final 10 percent will continue to be owned by one of Samsung’s venture capital businesses.
“Through the acquisition of Novaled, Cheil Industries strengthens its leading position in the field of electronic materials, and we are able to achieve significant synergies in research and development of OLED material of the next generation,” said Cheil CEO Jong-Woo Park. Samsung hopes the deal will help boost its OLED business moving into the future.