Universal Display Corporation of Ewing, New Jersey USA, reported that its wholly-owned subsidiary UDC Ireland Limited has acquired the OLED intellectual property (IP) assets of BASF SE a leading chemical company. According to UDC, the assets include over 500 issued and pending patents around the world, in 86 patent families. The IP mostly relates to phosphorescent materials and technologies. BASF’s OLED portfolio has an average lifetime of 10 years. UDC paid about €87 million to purchase BASF’s OLED patent portfolio.
BASF ceased its OLED research activities at the end of 2015. With the sale of its OLED IP assets, the firm’s withdrawal from OLED research is finalized.
“We are pleased to enhance our extensive key patents in phosphorescent materials with BASF’s complementary OLED IP portfolio,” said Steven V. Abramson, president and CEO of Universal Display. “One of our key objectives is to develop and deliver an all-phosphorescent emissive stack. We believe that this acquisition will help further these research efforts, principally in the development of commercial blue emissive systems.”
“We believe our IP and know-how fits perfectly into UDC’s patent portfolio, and competencies and that UDC will be able to generate the most value for the OLED industry out of these combined phosphorescent technologies,” said Felix Goerth, director organic electronics at BASF New Business GmbH.