The assets include over 500 issued and pending patents around the world, in 86 patent families, largely consisting of phosphorescent materials and technologies which could directly benefit UDC's UniversalPHOLED development efforts.
“We are pleased to enhance our extensive key patents in phosphorescent materials with BASF’s complementary OLED IP portfolio,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display in a company statement.
“One of our key objectives is to develop and deliver an all-phosphorescent emissive stack. We believe that this acquisition will help further these research efforts, principally in the development of commercial blue emissive systems.”
BASF ceased its OLED research activities at the end of 2015 after a careful strategic examination. With the sale of the OLED IP assets, the withdrawal is finalized.
“We believe our IP and know-how fits perfectly into UDC’s patent portfolio and competencies and that UDC will be able to generate the most value for the OLED industry out of these combined phosphorescent technologies,” said Felix Goerth, Director Organic Electronics at BASF New Business GmbH.
Since its inception in 1994, Universal Display has invested close to $400 million in research and development to advance the company from a start-up to a leading player in the global OLED ecosystem. The company licenses key OLED IP to all the big names in OLED display manufacture, including LG and Samsung.
Visit Universal Display Corporation at www.oled.com