Sumitomo Chemical to acquire CDT for US$ 285 million in cash
Sumitomo Chemical (住友化学株式会社) acquired Cambridge Display Technology (CDT) under a merger agreement, paying an acquisition price of US$ 285 million in cash.
- 1998: Sumitomo Chemical starts P-OLED development
- 2001: Sumitomo Chemical and CDT Ltd (fully owned subsidiary of CDT Inc) enter into a cooperation agreement including technology licensing
- May 2002: Sumitomo Chemical makes an equity investment in CDT Ltd
- November 2005: Sumitomo Chemical established joint-venture SUMATION Co Ltd together with CDT Ltd for the development, manufacture and sales of P-OLED materials
- 2007: Sumitomo Chemical acquires CDT
Cambridge Display Technology (CDT)
Cambridge Display Technology (CDT) is based largely on Professor Sir Richard Friend’s and his team’s inventions and developments of polymer light emitting diodes (P-OLEDs).
CDT before acquisition was established in 1999, traded on NASDAQ (OLED), and sales in 2009 were US$ 8 million, and employed 130 people.
CDT holds many patents and intellectual property in the field of P-OLEDs.
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