Thursday October 5, 9:30 am Eastern Time
Press Release
SOURCE: Universal Display Corp.
Motorola Grants OLED Technology Rights to Universal Display and
Takes Equity Position
EWING, N.J. and SCHAUMBURG, Ill., Oct. 5 /PRNewswire/ -- Motorola, Inc. (NYSE: MOT - news) has awarded Universal Display Corporation (UDC)
(Nasdaq: PANL - news; PHLX: PNL - news), a leading developer of flat panel display technologies, licensing rights for Motorola technologies related to
Organic Light Emitting Devices (OLEDs), both companies announced today. OLEDs are considered a critical platform for future flat panel displays for cell
phones, computers, wireless terminals and other communication devices.
Under the terms of the agreement, Motorola will receive a minority equity stake in UDC and provide licensing rights on more than 75 patents and patent
applications applicable to the development of flat panel displays using OLED technology. These patents cover technologies relevant to most aspects of OLED
manufacturing, including single layer devices, packaging, plastic substrates, materials development and encapsulation methods. UDC will have the sole right to
sublicense these Motorola patents to manufacturers
As a result of this license agreement, UDC and its licensed manufacturers will be able to more quickly develop commercially-appropriate technologies and
products that offer true differentiation in the marketplace. ``This represents a significant step for our company. It will add key, comprehensive technologies to our
existing portfolio of innovative OLED technologies and enable us to offer consumer electronics companies a broader array of the exciting, commercially viable
benefits of OLED technology,'' said Steven V. Abramson, President of UDC.
``Consumers are increasingly looking for more vivid displays for their electronic devices such as cell phones, particularly as they become internet-enabled.
OLED-based technology may create new product opportunities for Motorola,'' said Keith Bergelt, Director, Strategic Intellectual Asset Management for
Motorola.
About Motorola
Motorola, Inc. (NYSE: MOT - news) is a global leader in providing integrated communications solutions and embedded electronic solutions. Sales were $33.1
billion. More company information is available at www.motorola.com . Motorola's Strategic Intellectual Asset Management team actively licenses Motorola
Intellectual Property to external businesses. For additional information on patents available for licensing, contact Keith Bergelt at: keith.bergelt@motorola.com.
About Universal Display Corporation
UDC currently has 31 patents and more than 50 more pending relating to OLED technology, many of which have created the ability to make existing displays
more flexible, lighter-weight, brighter and more adaptable to various climates and conditions than flat panel technology. OLED-based displays are believed to
cost less and take less time to manufacture and, as such, are seen by many as the natural replacement for Cathode Ray Tubes (CRTs) and Liquid Crystal
Displays (LCDs), both of which are also limited by their lack of portability and clarity.
UDC has been developing OLED technology with Princeton University and The University of Southern California (USC) since 1994. It is located in the
Princeton Crossroads Corporate Center, minutes away from the Company's research partners at Princeton University, in an 11,000 sq. ft facility which includes
a pilot production line as well as technology development and technology transfer facilities.
All statements in this news release that are not historical are forward- looking statements subject to risks and uncertainties that could cause actual results to differ
materially for Universal Display Corporation from those projected, including, but not limited to: uncertainties relating to technological approaches, product
development, manufacturing, and marketing acceptance, uncertainties related to cost and pricing of Universal Display products, dependence on collaborative
partners, and other competition, risks relating to intellectual property of others and the uncertainties of patent protection. These are discussed in periodic reports
filed with the SEC, including the Company's annual report on Form 10-K for the year ended December 31, 1999 and quarterly report on Form 10-Q. Universal
Display Corporation expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained
herein to reflect any change in Universal Display Corporation's expectations with regard thereto or any change in events, conditions, or circumstances on which
any such statements are based.
SOURCE: Universal Display Corp. |
