Bloomberg
Samsung Group (005930) is nearing an agreement to acquire Novaled AG, a German maker of materials used to light up smartphone and television screens, two people with knowledge of the matter said.
“We are internally reviewing plans to acquire Novaled, but no details have been set yet,” said Lee Tae Hun, a spokesman for Cheil Industries Inc. (001300), the chemical and electronic materials unit of South Korea’s largest conglomerate, in a telephone interview.
A deal to buy Novaled for more than $200 million may come as early as this week, according to a person with knowledge of the matter, who asked not to be identified because the talks are private.
Samsung is pushing to gain control of organic light-emitting diode, or OLED, technology as users shift to thinner screens in smartphones and televisions. The technology offers sharper, brighter images while consuming less power. The world’s biggest television maker started selling 55-inch curved OLED TVs for about $13,500 in its home market last month.