Nanosys acquires MicroLED company gl?

Nanosys, the industry pioneer and supplier of quantum dot light emitting materials and technology, announced the acquisition of gl?, the technology company for microLED displays. The transaction significantly expands Nanosys’ capabilities and technology offerings, accelerating the company’s development and progress toward the widespread adoption of microLED and nanoLED display technology for future displays.

Founded in 2003, gl? developed highly efficient xGaN microLEDs based on unique methods and processes. The acquisition fills a key role in Nanosys’ technology roadmap, uniquely positioning Nanosys to lead the future of display across all technologies from miniLED to OLED and MicroLED to NanoLED. Prior to the acquisition, gl? had invested over $200 million in its technology, which funded development of best-in-class microLED epitaxy, device and transfer technology, resulting in microLED performance at the smallest dimensions.

According to Eric Virey, of Yole Développement¹, this acquisition positions Nanosys with a unique and broad technology portfolio to address all future display applications. “MicroLED is one of the greatest potential display technologies but there is one problem: cost. To deliver on this potential, microLED pixels must be ultra small, bright and cost effective. The market currently lacks a cost effective microLED solution with ultra small and bright pixels. Bringing microLED together with Quantum Dot is an exciting opportunity to unlock the growth potential in this market.”
1. MicroLED Displays – Market, Industry and Technology Trends 2020”, Yole Développement, 2020

“Nanosys created a vibrant, growing marketplace for our proprietary quantum dot technology over the past two decades,” said Jason Hartlove, Nanosys President & CEO. “Combining the best Quantum Dot and microLED technologies allows Nanosys to unlock the disruptive potential of microLED by lowering production cost and maximizing performance. Together, we can create the smallest, brightest, lowest cost pixels that will enable microLED to penetrate the mainstream TV market and open the doors for new applications in AR, automotive and beyond.”

The acquisition of gl? significantly expands Nanosys intellectual property portfolio enabling the company to continue to provide margin rich disruptive solutions to the massive $200 billion display market.

Jefferies acted as financial advisor for the transaction and Latham and Watkins served as legal counsel to Nanosys in connection with the transaction.