Jio IPO Filing Nears as Reliance Targets $4 Billion Market Debut 
ASX Proposes New Share Dilution Limits for Public Takeovers 
Global EV Sales Rise for Third Consecutive Month in May Despite Regional Market Challenges 
Roku Explores Sale Options as Interest Grows in Streaming and Ad Business 
AI Memory Boom Sparks Global Chip Supply Crunch 
DOJ Clears Paramount Skydance-Warner Bros. Discovery Merger Without Conditions 
G7 Explores AI Access Deal With U.S. Amid Anthropic Restrictions 
Dollar Slips as U.S.-Iran Peace Deal Boosts Risk Appetite and Pressures Safe-Haven Demand 
Chinese Social Media Giant Xiaohongshu Eyes Hong Kong IPO at Over $70 Billion Valuation 
Anthropic Restricts Global Access to AI Models After U.S. Security Review 
SoftBank Vision Fund CFO Navneet Govil to Exit After Decade-Long Tenure 
Samsung Gains Interest from BYD, Google, AMD as AI Chip Demand Strains TSMC Capacity 
Dollar Slips as U.S.-Iran Peace Deal Optimism Boosts Risk Appetite Ahead of Fed Decision 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
BOJ Raises Interest Rates to 31-Year High, Signals Strong Focus on Inflation Risks 
BOJ Raises Interest Rates to 1% as Inflation Pressures Persist 
SpaceX Stock Soars After Historic IPO, Reaches $2.5 Trillion Market Value 
Samsung Display Co. Ltd. and eMagin Corporation announced this week they have signed a definitive merger agreement. The South Korean subsidiary of Samsung Electronics is acquiring the American leader in organic light emitting diode (OLED) microdisplay technology for $218 million.
Samsung Display and eMagin agreed that the former is buying all outstanding shares of the latter’s common stock for $2.08 per share. The purchase is set to be paid in full cash.
The merger is expected to strengthen Samsung Display’s push to get into the global market for its line of businesses, including extended reality. In any case, eMagin was founded in 2000 and is currently based in Hopewell Junction, New York. It mainly manufactures small-sized OLED display panels for augmented reality (AR) and virtual reality (VR) devices.
According to Korea Joongang Daily, Samsung Display and eMagin are expecting their merger deal to be completed within the second half of this year. Then again, just like any other buyout transaction, this is also subject to the approval of regulators, stockholders of eMagin, and other applicable customary closing conditions.
Until the process of the buyout is closed, the two companies will continue to operate as separate independent firms. And when everything is in place and finalized, the American OLED maker will still maintain its operations and facilities in New York.
“This agreement is a validation of our technical achievements to date including our proprietary direct patterning (dPd) technology, provides a significant premium for our shareholders, and represents a win for our customers and employees,” eMagin’s chief executive officer, Andrew G. Sculley, said in a press release. “By teaming with Samsung Display, we will be able to achieve the full potential of our next-generation microdisplay technology with a partner that can provide the resources and expertise we will need to scale production.”
Samsung Display’s president and CEO, Joo Sun Choi, further commented, “We expect XR (Extended Reality) devices to have significant potential of growth in the future, and eMagin’s technology in this space will enable Samsung to offer innovative products to more customers and strengthen its XR-related business.”
Photo by: Samsung Display Newsroom
