Sumitomo to Acquire Cambridge Display Technology for $285 Million

Sumitomo Chemical says it has signed an agreement to purchase all outstanding shares of Cambridge Display Technology (CDT; Cambridge, U.K.) in a deal valued at about $285 million. Sumitomo says the deal will enable it to “improve the performance of light-emitting materials and organic light-emitting diode (OLED) display-related materials, and further accelerate the development of commercial technologies for the manufacture of OLED displays.” Sumitomo says the market for polymer OLEDs is expected to “grow rapidly” going forward, primarily...

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