Tokyo, Japan and Ewing, New Jersey — July 24, 2012 — FUJIFILM Corporation and Universal Display Corporation 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 US$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."
"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."