Thin Film Electronics Raises $24 Million
Thin Film Electronics has raised $24 million as part of a goal to bring electronics to cost-sensitive applications. Thin Film makes electronics through a a new process of printing rather than semiconductor fabrication. Invesco Asset Management’s funds agreed to buy 46.7 million shares in Thin Film Electronics for NOK3.00 per share for a total of NOK140 million ($24 million). This gives Invesco an addition of 10% ownership in Thin Film. Invesco bought 13% of Thin Film as part of a private placement earlier this month.
“Since Invesco’s original investment, we have seen intense international interest in Thinfilm,” stated Davor Sutija, CEO of Thinfilm. “The investment announced today will provide a tremendous opportunity to deliver our vision for the Internet of Everything, in which printed electronic objects become part of the network through near-field wireless communication.”
Thin Film has built a system for a disposable printed electronic tag, which is a modern sensor system that could replace product bar codes, according to VentureBeat.
Thin Film Electronics is public on the Oslo Stock Exchange and was founded in 2008.