Samsung Ventures Investment Corporation, Seoul, Korea (SVIC), and Novaled AG, Dresden, Germany (Novaled), announced that SVIC has become a shareholder of Novaled.
Novaled is a key player in OLED technology and organic materials surrounding the emitting materials. The Novaled PIN OLED® technology aims at reducing the energy consumption while offering longer lifetimes.
“Our investment in Novaled is consistent with our strategy to work closely with established market leaders.” says 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.” says Gildas Sorin, Novaled Chief Executive Officer.
The details of the deal have not been communicated.