OSAKA -- Sharp and other Hon Hai Precision Industry group companies will acquire an American startup working on next-generation display technology, aiming to commercialize products such as large displays for which liquid crystals are less suited.
The Japanese electronics maker will team with CyberNet Venture Capital, panel maker Innolux and Advanced Optoelectronic Technology to buy Delaware-based eLux in October, Sharp said Monday. All of the acquirers are owned by or affiliated with Taiwanese contract manufacturer Hon Hai, also known as Foxconn.
The American startup develops technology for micro-LED displays, which consist of small, light-emitting diodes. The company was established in October 2016 by researchers formerly employed at Sharp research facilities in the U.S.
Sharp will hold a share of just over 30% in eLux, a stake valued at $7 million, in exchange for related patents.