Samsung Display has taken over the German company Cynora, now all of the more than 120 employees have to resign. For Samsung, the purchase was probably only about patents and the important TADF technology.
Samsung takes over Cynora and fires everyone
Samsung’s display division has taken over the German start-up Cynora from Bruchsal in Baden-Württemberg for a sum of around 300 million US dollars. However, Samsung was not interested in the developers and engineers, as was established a short time later. reportedly have been dismissed all of the more than 120 employees without further ado (Source: Bloomberg).
For Samsung, however, the takeover was worth it. Cynora was considered Expert in organically emitting materials, which can be used in OLED displays. The company, which was founded in 2013, also drew attention to itself in the field of TADF technology (thermally activated delayed fluorescence). Samsung is likely to use the technology to reduce the power consumption of OLED components.
Cynora had been standing for a while on the list of large corporations. LG Display and Samsung Venture Investment had already invested around 25 million euros in the company in 2017, which was founded by former employees of the Karlsruhe Institute of Technology (KIT). The German development bank KfW had also supported Cynora in the past, along with various venture capital companies.
This is how LC and OLED displays differ:
Cynora: Sale as a last chance?
Some insiders had speculated for some time that Cynora would have to be sold in order to Demands from lenders to comply The start-up is said to have run out of funds over time.
As recently as July 2020, Cynora CEO Gildas Sorin announced that the start-up should become a unicorn. Start-ups with a market capitalization of one billion US dollars are referred to as Unicon or unicorn.