May 24, 2017: In a bid to develop micro-LED display technology, Foxconn’s affliate Sharp and other Foxconn group companies will acquire an US startup eLux.
Demand for micro-LED is growing slowly but steadily. However, commercialization of micro-LED based products will still take some more years.
Sharp will team up with Innolux, CyberNet Venture Capital and Advanced Optoelectronic Technology to acquire eLux by the end of October 2017.
The deal, which is valued at US$10 million, aims to develop and commercialize micro-LED-based products like large displays.
eLux, which was established in 2016, develops fluidic assembly techniques for micro-LED displays. eLux owns a number of patented technologies relating to fixing defective pixels, mass transfer, and redundancy modules, which are essential parts in micro-LED manufacturing process.
After the acquisition, Sharp will hold 31% share in eLux, which will be valued at US$7 million. Sharp believes that the acquisition will bring in an additional 600 million Japanese yen in revenue.