Veeco to Purchase Synos Technology
News Sep 20, 2013
Veeco Instruments Inc. has announced that it has signed an agreement to acquire privately held Synos Technology, Inc. (“Synos”).
Synos designs and manufactures Fast Array Scanning™ Atomic Layer Deposition (FAST-ALD™) systems that are enabling the production of flexible organic light-emitting diode (OLED) displays for mobile devices.
“We have found a great fit to add to Veeco’s technology portfolio and expand our growth opportunities,” said John R. Peeler, Veeco’s Chairman and Chief Executive Officer.
Peeler continued, “Synos is an early stage company with big growth potential. We believe that their fast array scanning ALD technology for thin film encapsulation layers will remove the primary barrier to adoption of flexible OLED displays, helping make unbreakable, light-weight mobile displays a reality. Their systems are poised to move from pilot line to full production at the world leader in mobile OLED displays.”
Synos’ first pilot production system has been installed and the manufacturing ramp is currently expected to begin in 2014.
According to industry forecasting firm IHS iSuppli, the flexible OLED display market is expected to grow from $21 million in 2013 to almost $12 billion by 2020, and will revolutionize the entire display industry.
Mr. Peeler added, “Near-term, we believe the OLED equipment market opportunity for Synos’ ALD technology exceeds $400 million for mobile phones alone. We also see numerous extended opportunities for this breakthrough ALD technology in OLED TV, lighting, solar, batteries and other large adjacent markets.”
Ilsong Lee, President and Chief Executive Officer of Synos, commented “We are at an exciting inflection point in our history. It is time for us to join forces with Veeco, a world leader in advanced deposition technologies. Veeco will bring the global operating experience and resources we need to ramp our business, support our key customer, and deliver on the promise of our technology.”
Mr. Lee will join Veeco as Senior Vice President and ALD General Manager. In addition, Synos co-founder, Dr. Sang In Lee, will join Veeco as Chief Technology Officer for Veeco ALD.
“Synos’ FAST-ALD provides an elegant solution for some very complicated challenges faced by OLED display manufacturers,” added Daniel Rubin, Chairman and co-founder of Synos.
Rubin continued, “Veeco's well-known commitment to customer satisfaction and operating excellence will accelerate the market adoption of this technology for OLED and other advanced manufacturing applications."
Empowering Women in Technology Key to Boosting UK EconomyNews
A new report launched at London Stock Exchange for International Women’s Day, reveals the critical role women play in driving economic growth across the UK, with detailed research on 1,279 women-led companies showing a total contribution of £25.9 billion in revenue to the UK economy.READ MORE
BIA Separations and Nuvonis Technologies Partner to Support Vaccine and Gene Therapy ProductionNews
Agreement combines strengths in upstream and downstream process development.READ MORE
Dual Frequency Comb Generated on a Single Chip Using a Single LaserNews
Scientists have for the first time miniaturized dual-frequency combs by putting two frequency comb generators on a single millimeter-sized silicon-based chip. This development could lead to low-cost, portable sensing and spectroscopy in the field in real-time.READ MORE
Comments | 0 ADD COMMENT
World Congress on Clinical And Medical Microbiology
Sep 10 - Sep 11, 2018