According to news reports by the Wall Street Journal and Bloomberg, Samsung is reportedly in talks to acquire German organic light-emitting diode (OLED) technology developer Novaled in a deal that could be worth $200m. Samsung affiliate Cheil Industries, also known as Samsung Chemical, would be acquiring the company.
In 2011, Samsung’s venture capital arm invested in the company for an undisclosed amount.
Lee Tae Hun, a spokesman for Cheil Industries has expressed in news reports that the Samsung company is internally reviewing plans to acquire Novaled, but no details have been set yet.
Samsung, which already owns 10 per cent of the company, accounted for 53 per cent of Novaled’s sales in 2011, according to a May 2012 filing for an initial public offering by the German company. However, according to Wall Street Journal and Bloomberg reports, the company never completed the IPO. Other suitors for the company in the past have included South Korea’s Doosan Corp.
The company is based in Dresden and has sales offices in Korea and Japan.