BASF sell its OLED intellectual property assets in €87 million deal

BASF to sell its OLED intellectual property assets in €87 million deal

7:29 AM, 30th June 2016
BASF to sell its OLED intellectual property assets in €87 million deal

EWING, US/LUDWIGSHAFEN, GERMANY: Universal Display Corporation (UDC) through its wholly-owned subsidiary UDC Ireland Limited has acquired the organic light emitting diodes (OLED) intellectual property (IP) assets of BASF SE. The purchase price for the acquisition is approximately €87 million.

Representing 15 years of research and development, the assets include over 500 issued and pending patents around the world, in 86 patent families. Largely consisting of phosphorescent materials and technologies, BASF’s OLED portfolio has an average lifetime of 10 years.

Universal Display continues to make progress on new and next-generation red, green, yellow and blue emitters and hosts, as well as expanding its core competencies of phosphorescent OLEDs (PHOLED) and other OLED technologies including OLED manufacturing processes and equipment. UDC expects the acquisition of BASF’s IP assets to further fortify its expansive global OLED intellectual property framework.

“We are pleased to enhance our extensive key patents in phosphorescent materials with BASF’s complementary OLED IP portfolio. We believe that we are best positioned to incorporate and leverage BASF’s IP assets into our existing broad and robust portfolio of 3,600+ issued and pending patents worldwide. We expect this acquisition to strengthen our commercial development pipeline of new and next-generation OLED systems and bring additional value to our customers and shareholders,” said Steven Abramson, president and CEO of Universal Display.

BASF ceased its OLED research activities at the end of 2015 after a careful strategic examination. With the sale of the OLED IP assets, the withdrawal is finalized.

“We are pleased that UDC will take forward the development and marketing of our OLED materials and technologies. We believe our IP and know-how fits perfectly into UDC’s patent portfolio and competencies and that UDC will be able to generate the most value for the OLED industry out of these combined phosphorescent technologies,” said Felix Goerth, director organic electronics at BASF New Business GmbH.

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