Universal Display Corporation (NASDAQ:PANL), the leading OLED patent licensor and supplier of materials and technologies for energy-efficient OLED displays and lighting, and FUJIFILM Corporation (TSE: 4901), announced today that Fujifilm has sold and Universal Display has purchased the entire worldwide patent portfolio of more than 1,200 OLED patents and patent applications of Fujifilm for $105 million.
For more than 10 years, Fujifilm has conducted R&D in the OLED field, and, as a result, developed promising new technologies in OLED materials as well as devices using such materials, and obtained a strong patent portfolio covering such technologies.
As a leading company in the OLED industry with advanced technologies and a well-respected patent position in the OLED field, Universal Display is expanding its business for OLED materials and the licensing of its patented OLED technologies through this acquisition.
Fujifilm and Universal Display have been exploring possible strategic relationships between the two companies, and have agreed to the sale and purchase of Fujifilm’s OLED patent portfolio in connection with a strategic relationship beneficial to both companies. This will allow Universal Display, in addition to strengthening its existing worldwide patent portfolio, to explore new and exciting areas of OLED materials and product development for the future. Fujifilm will expand its business for the supply of Fujifilm’s highly functional materials, such as barrier films, conductive films and flexible substrates, to OLED manufacturers around the world, including Universal Display’s worldwide customer base. Fujifilm and Universal Display intend to strengthen and enhance their strategic alliance in the future.“We are much delighted to realize cooperation between Fujifilm, with its advanced OLED material technologies, and Universal Display, a leader in the OLED industry playing a central role, by this transfer of Fujifilm’s OLED patent portfolio. I strongly believe that this agreement will be mutually beneficial to both companies,” said Shigetaka Komori, Chairman and Chief Executive Officer of Fujifilm. “With its industry-leading, proprietary technologies in R&D and production of highly functional materials, Fujifilm will continue to contribute to the OLED industry by supplying innovative highly functional materials including barrier films. Fujifilm and Universal Display will continue discussions for further possible strategic relationship between the two companies.”