Samsung Display to Buy eMagin
eMagin (EMAN) and Samsung Display have announced a merger agreement under which SDC will purchase all of eMagin’s outstanding stock at $2.08, roughly a 10% premium to the closing price on May 16. This values eMagin at ~$218m. eMagin has been developing Micro-OLED displays since 1996, with considerable funding from the US military who has used their displays in military hardware, particularly night-vision goggles, and in 2004 released the first consumer-oriented OLED Micro-display that was used in an early Sony (SNE) VR headset. eMagin, which is based in Hopewell Junction, NY at a former IBM (IBM) site,
eMagin currently produces a variety of full color Micro-OLED displays that range from VGA to 2Kx2K micro-OLED displays ranging in size from 0.47” to 1”. Samsung’s interest likely stems from eMagin’s dPd OLED patterning technology that is part of its patent portfolio. The technology allows for RGB side-by-side stripe patterning, rather than a white OLED Micro-display that uses a color filter to create sub-pixels. Samsung is expected to adopt this type of Micro-OLED display technology in the future, although it will likely initially use the WOLED system until the dPd technology can be scaled to nigh volume production. Upper management are former Eastman Kodak (KODK) executives who were involved in Kodak’s early work with OLED displays.
While major investors are Vanguard (pvt), Blackrock (BLK) and company management and directors, the largest single shareholder is the Stillwater Trust LLC, whose sole member is Mortimer D.A. Sackler, former (left in 2018) 20-year director of the notorious Purdue Pharma LLC, the developers, and marketers of oxycontin, considered a major cause of the national opioid crisis. You don’t always get to choose who your shareholders are…
eMagin currently produces a variety of full color Micro-OLED displays that range from VGA to 2Kx2K micro-OLED displays ranging in size from 0.47” to 1”. Samsung’s interest likely stems from eMagin’s dPd OLED patterning technology that is part of its patent portfolio. The technology allows for RGB side-by-side stripe patterning, rather than a white OLED Micro-display that uses a color filter to create sub-pixels. Samsung is expected to adopt this type of Micro-OLED display technology in the future, although it will likely initially use the WOLED system until the dPd technology can be scaled to nigh volume production. Upper management are former Eastman Kodak (KODK) executives who were involved in Kodak’s early work with OLED displays.
While major investors are Vanguard (pvt), Blackrock (BLK) and company management and directors, the largest single shareholder is the Stillwater Trust LLC, whose sole member is Mortimer D.A. Sackler, former (left in 2018) 20-year director of the notorious Purdue Pharma LLC, the developers, and marketers of oxycontin, considered a major cause of the national opioid crisis. You don’t always get to choose who your shareholders are…
RSS Feed