JDI (Japan Display Inc.) has clarified the completion of its acquisition of various technologies and employees from JOLED following that companies announcement in March, 2023 that it was filing for bankruptcy. By June 30, 2023, JDI will have control over the following:
- OLED Technology Development Business: This is the core asset being acquired. It represents the technologies, tools, software, designs, and methods JOLED has developed to create OLED displays.
- Intellectual Property (IP): The IP includes patents, trademarks, trade secrets, and all other forms of legally protected innovations that JOLED has in relation to OLED technology.
- Employees: About 100 employees from JOLED are expected to be employed by JDI.
JDI will not be taking on any of JOLED’s liabilities (debts or financial obligations) and is not acquiring JOLED’s product manufacturing and sales businesses, which is as expected based on the initial news of the bankruptcy filing when JDI stated it would take over JOLED’s research and development. Now we know the price, 1 billion Yen ($7.2 million).