Sharp and Foxconn Companies to Acquire MicroLED Display Startup eLux

Sharp will partner with Advanced Optoelectronic Technology, CyberNet Venture Capital, and panel maker Innolux to acquire U.S. microLED display startup eLux, according to a Nikkei article. Delaware-based eLux plans to commercialize microLED-based large displaysfor which liquid crystal technology is less suited. The companies have scheduled the acquisition for October. All of the acquiring firms are affiliated with or owned by Taiwanese contract manufacturer Hon Hai, also known as Foxconn. Sharp will reportedly hold a 30 percent stake valued at $7 million.

Researchers formerly employed at Sharp research facilities in the U.S. started eLux in October 2016.

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