Samsung Snaps This OLED Company Reputed For Foldable Devices For $300M

Samsung Display Co. scooped display company Cynora GmbH for $300 million, gaining technology for so-called OLED screens, Bloomberg reports.
Samsung acquired Cynora’s intellectual property and technology under the deal.
The Bruchsal, Germany-based company, terminated its workforce under the arrangement.
Samsung was already an investor in Cynora, with LG Electronics Inc LGEJY and other display manufacturers also backing the startup.
Samsung and other tech companies are known for their OLED screen offerings. However, Cynora specialized in making rigid versions of the displays for foldable devices, a market sought by Apple Inc AAPL, Alphabet Inc GOOG GOOGL, and others after Samsung.
Cynora is also known for its next-generation emitter technology for blue and green-based color reproduction. It could improve the power efficiency of displays and enhance the contrast between colors.
Due to robust demand from automotive and smartphone markets, Samsung dethroned Intel Corp INTC as the top chip seller in 2021.
In the next five years, Samsung looks to invest 450 trillion won ($356 billion) to accelerate growth in semiconductors, biopharmaceuticals, and other next-gen technologies.
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