Universal Display (PANL) Buy More than 1,200 OLED Patents from Fujifilm
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Shares of Universal Display Corp. (Nasdaq: PANL) are fractionally lower after announcing early Tuesday that it purchased the entire worldwide patent portfolio of more than 1,200 OLED patents and patent applications of Fujifilm for $105 million.
"We are very excited to acquire the OLED patent portfolio of Fujifilm Corporation, a remarkable company with one of the strongest OLED research teams in the world for more than a decade. It is an honor to incorporate their excellent work into our portfolio. This transaction will almost double Universal Display’s patent portfolio enabling us to deepen, broaden and extend the technologies and materials that we offer to our customers," said Steven V. Abramson, President and Chief Executive Officer of Universal Display. "Opportunities such as this come along rarely, and we are pleased that we are able to expand our OLED licensing and materials businesses and accelerate the growth of the OLED markets with this excellent acquisition. We look forward to continuing to enhance our alliance by exploring new avenues of collaboration with Fujifilm in the future."
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"We are very excited to acquire the OLED patent portfolio of Fujifilm Corporation, a remarkable company with one of the strongest OLED research teams in the world for more than a decade. It is an honor to incorporate their excellent work into our portfolio. This transaction will almost double Universal Display’s patent portfolio enabling us to deepen, broaden and extend the technologies and materials that we offer to our customers," said Steven V. Abramson, President and Chief Executive Officer of Universal Display. "Opportunities such as this come along rarely, and we are pleased that we are able to expand our OLED licensing and materials businesses and accelerate the growth of the OLED markets with this excellent acquisition. We look forward to continuing to enhance our alliance by exploring new avenues of collaboration with Fujifilm in the future."
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