Prime View Buys E Ink Corporation For $215 Million
E Ink Corporation is the company behind the electronic paper displays that go into devices such as the Amazon.com Kindle and the Sony Reader. Prime View International Co. Ltd. is one of E Ink’s primary partners. Today Prime View reached an agreement to buy out E Ink for $215 million.
When E Ink started in 1997, they raised about $150 million in capital so the acquisition price does not seem to impressive. E Ink will maintain their headquarters in Cambridge, Massachusetts.
Prime View and E Ink have been partners since 2006 and together they helped support about 20 e-book manufacturing companies.
“Combining E Ink and PVI creates a single public company that is dedicated to electronic paper,” stated E Ink co-founder, CEO, and president Russ Wilcox. “With a common ownership structure, we can get closer to customers around the world, streamline the supply chain, and speed up new product development.”
Some of E Ink’s investors include Eastward Capital, FA Technology Ventures, and Solstice Capital, Intel, and Motorola.
[via InformationWeek]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry