LG to Buy Kodak's OLED Business, Reach Cross-license Agreement
December 20, 2009
Korea's LG Group has decided to buy Eastman Kodak's
OLED (Organic Light Emitting Diode) business and the two companies have entered
into a technology cross-license agreement as well, EE Times reported on
December 14. Via the cross-license agreement, the two companies will be able to
access each other's OLED patents and Kodak will continue to use OLED technology
in its products. Transaction is slated for completion by year-end 2009. Leveraging
the acquisition of Kodak's OLED business, LG Group plans to launch an OLED
patent administrator tentatively named LG OLED by the year-end. The new
company, jointly financed by LG Electronics, LG Display, and LG Chem, is
expected to consolidate LG Group's effort in developing OLED business.