Taiwan-based Himax Technologies on July
22 announced that Google has agreed to purchase certain amount of
preferred shares in Himax Display, and will hold a 6.3% interest in the
subsidiary.
The transaction is expected to close in
the third quarter of 2013, subject to regulatory approvals and other
closing conditions. Financial terms were not disclosed.
"The purpose of the investment is to
fund production upgrades, expand capacity and further enhance production
capabilities at HDI's facilities that produce liquid crystal on silicon
(LCOS) chips and modules used in applications including head-mounted
display such as Google Glass, head-up display and pico-projector
products," Himax said in a statement.
Google also has an option to make buy
more shares within one year of closing. "If the option is exercised in
full, Google will own a total of up to 14.8% in HDI," Himax indicated.
Himax, which now holds 81.5% of Himax Display, added that it will remain the subsidiary's major shareholder.
Founded in 2004, Himax Display is
engaged in developing commercial applications for LCOS technologies,
in-house manufacturing expertise and production lines with proven,
high-volume shipment track records. Over the last few years, HDI has
devoted its R&D efforts to solutions for head-mounted displays and
wearable computing applications.
"We look forward to leveraging this investment and our collective
expertise with Google to create unique and transformational LCOS
technologies for many years ahead," noted Jordan Wu, Himax president and
CEO, in the statement.
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