Samsung Electronics has acquired German organic lighting diode (OLED) company Novaled. OLEDs are used for next generation displays built in cellphones and TVs. OLEDs are energy efficient and can produce high image quality.
Samsung paid around $350 million plus a potential $40 million based on performance for Novaled. Samsung previously invested in Novaled along with eCAPITAL, TechnoStart, Omnes Capital, TechFund Europe, and Innovation Capital.
Novaled has shipped smartphones with their Super AMOLED Plus screens since 2011. The company was actually founded in 2001 as a spin-off from the Dresden University of Technology and the Fraunhofer Institute of Dresden, according to GigaOM. We first reported about this acquisition taking place in late July, but it was not confirmed until this past week.