Google Inc. (NASDAQ:GOOG) has acquired a 6.3% stake in a Taiwanese chip company called Himax Technologies. Himax Technologies is known for developing display technology that is used in devices like Google Glass.
Himax will be using the funding to increase production of liquid crystal on silicon chips and modules that are used in wearable devices. They will also continue to invest in production for their head-up displays and pico-projectors.
As part of the agreement between the two companies, Google will be able to raise their stake in the Himax Display Inc. unit to 14.8% within a year, according to Reuters. The amount involved in the investment was undisclosed.
Google Glass is a product that Google announced in June 2012. The smart-glasses product has a stamp sized electronic display embedded on the left side of the eyeglass frames. Google Glass allows users to record photos/video, browse the Internet, and control text messages.
Other shareholders in Himax Technologies includes Intel Capital, Khosla Ventures, and Kleiner Perkins. This transaction is expected to close in this quarter.