Samsung Acquires German OLED Display Startup Cynora
- South Korean tech giant is paying about $300 million
- Cynora develops OLED displays and other screen technologies
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Samsung Display Co. has purchased display company Cynora GmbH for about $300 million, according to people with knowledge of the matter, gaining technology for so-called OLED screens.
As part of the deal, Samsung acquired Cynora’s intellectual property and technology but not its engineers, said the people, who asked not to be identified because the terms weren’t disclosed. The Bruchsal, Germany-based company terminated its workforce in recent weeks as part of the transaction, the people said. Samsung was already an investor in Cynora, with LG Electronics Inc. and other display manufacturers also backing the startup.