Universal Display Licenses OLED Tech to Panasonic

Universal Display Corp. has announced its entrance into a technology license agreement with Panasonic Idemitsu OLED Lighting Co. Ltd. (PIOL) of Osaka, Japan, a joint venture between Panasonic Electric Works Co. Ltd. and Idemitsu Kosan Co. Ltd.

Under the agreement, PIOL will be licensed to integrate Universal Display’s proprietary UniversalPHOLED phosphorescent and other organic LED (OLED) technologies and materials into OLED lighting products. Universal Display has granted license rights under various patents and associated know-how owned or controlled by itself to PIOL to manufacture and sell OLED products for lighting applications. PIOL will pay Universal Display running royalties on its sales of these products under the agreement, with a portion of the royalties prepaid.

The two companies also have entered into a separate material supply agreement. The terms of both agreements run through July 31, 2014.

Universal Display develops OLED technologies, materials and services to the display and lighting industries.

For more information, visit: www.universaldisplay.com