Universal Display Corp Agrees License With Idemitsu JV
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Tuesday, 20 September 2011 |
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LED Lighting
Universal
Display Corp (PANL.O) said it will license some technologies and sell
materials to a joint venture owned by Panasonic (6860.T) and Idemitsu
Kosan (5019.T), sending the LED supplier's shares up 10 percent in
after-hours trading.
Under the license agreement, the joint venture Panasonic Idemitsu OLED LightingCo Ltd (PIOL) will have license rights under various patents owned or controlled by Universal Display. PIOL will pay Universal Display running royalties on its sales of these products. It will prepay a portion of the royalties, Universal said in a statement.
The parties have also entered into a separate material supply agreement and both agreements run through July 31, 2014.
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