Samsung Display buys US OLED microdisplay maker for $218 mn

South Korea's Samsung Display has bought American OLED microdisplay maker eMagin for $218 million (290 billion won).

eMagin on Wednesday said Samsung signed a deal to purchase all of its shares for $218 million, an amount calculated by adding a business rights premium of about 10% to the company's market cap.

Founded in 2001, eMagin possesses direct patterning technology with higher luminance at lower power than conventional OLEDs, something necessary for extended (XR) and virtual reality. Samsung is poised to boost its XR display capacity with the acquisition.

"XR devices are expected to have great growth potential," Samsung Display CEO Choi Joo-sun said. "Based on eMagin's technology, we will provide innovative products to more customers and strengthen our XR-related businesses."

Write to Ik-Hwan Kim at lovepen@hankyung.com