Polymer Vision secures €21 million, announces spin-out from Philips
Polymer Vision, who presented the first functional device with a rollable display at IFA 2005, have announced their spin-out from Philips:
Philips™ Incubator activity Polymer Vision will become an independent company – Polymer Vision Ltd., focusing on products for the rollable display market. Technology Capital has invested €21 million in the company and will become the major shareholder. Philips will retain a 20% stake in the new company.
The transaction will allow Polymer Vision to push ahead with its commercialization plans to meet strongly growing market demand from the mobile device industry. Volume production of its 5-inch monochrome rollable display will start this year in cooperation with existing partners. The company will continue to operate from its location at the High Tech Campus Eindhoven, the Netherlands.
