[ad_1]
Samsung Display has acquired New York-based OLED microdisplay maker eMagin in an all-cash deal valued at approximately $218 million. The two firms expect this merger agreement to complete in the second half of 2023. They will remain separate and independent companies until then. According to eMagin’s press release, it will continue to operate from its existing facilities in Hopewell Junction, New York following the closing of the deal as well.
Samsung Display and eMagin reach a merger agreement
Founded in 1996, eMagin has expertise in the OLED microdisplay industry. Over the years, it has developed several industry-first microdisplay solutions, which are typically smaller than an inch and have an extremely high resolution or pixel density, as high as 2,600 PPI (pixels per inch). Smartphone displays typically have a pixel density of less than 500 PPI.
eMagin’s main strength is screen brightness, though. The company recently demonstrated the industry’s brightest WUXGA (1920×1200) full-color OLED microdisplay with a record-setting peak brightness of 15,000 nits. It surpassed its own brightness record of 10,000 nits set in 2021. The firm archives such high levels of brightness using a unique direct-emission OLED microdisplay technology. This approach allows for higher brightness than color-filter-based displays without damaging pixels.
Thanks to this unique technology, the firm received several multi-million investments from Apple, LG, Valve, and other tech biggies in the past. It has also worked with many industry giants, including Meta and Samsung Display. But the latter is now paying around ten percent higher than eMagin’s current stock price to outright acquire it. And it isn’t surprising. Samsung Display has been interested in eMagin’s OLED microdisplay technology for a while now. Reports of merger talks between the two firms have been doing around since at least October last year.
This acquisition will boost Samsung’s microdisplay efforts
The Korean conglomerate wants to use the American company’s resources and technology to boost its microdisplay efforts for AR/VR devices. The plan is to begin mass production of OLED microdisplays by the end of 2024 or early 2025 as the AR/VR industry starts to flourish. Samsung is already working with Google and Qualcomm on a new VR headset. It is also developing MicroLED displays for AR and VR products, as well as smartwatches. The acquisition of eMagin will help the company in all of these next-gen display efforts.
eMagin, meanwhile, has had close ties with the US military. The United States Department of Defense (DOD) has funded the company on several occasions in the past. It makes microdisplays for various military equipment such as night vision goggles and head-mounted display systems. It remains to be seen how this relationship play out following the merger with Samsung Display. Samsung also makes exclusive products for the DOD, so eMagin may be able to maintain some of its current ties.
“By teaming with Samsung Display, we will be able to achieve the full potential of our next-generation microdisplay technology with a partner that can provide the resources and expertise we will need to scale production,” said eMagin’s CEO Andrew G. Sculley in a press release announcing this merger agreement. Moreover, our customers will benefit from resulting improvements to our production capabilities in terms of yield, efficiency, and quality control.”
[ad_2]
Source link