July 26, 2012 -- FUJIFILM Corporation sold its entire worldwide patent portfolio of more than 1,200 organic light-emitting diode (OLED) patents and patent applications to Universal Display Corporation (NASDAQ:PANL) for $105 million.

Fujifilm has researched and developed OLED materials as well as devices for more than 10 years.

Universal Display is expanding its business for OLED materials and the licensing of its patented OLED technologies through this acquisition. In related news, Universal Display expanded its OLED partnership with Plextronics to cover hole injection and transport materials.

In addition to the patent sale, the 2 companies are engaged in “a strategic relationship,” with strengthened and enhanced alliances between the companies. Fujifilm will expand its business for the supply of Fujifilm's highly functional materials, such as barrier films, conductive films and flexible substrates, to OLED manufacturers globally, including Universal Display's worldwide customer base. Universal Display will develop new technologies and processes for OLED manufacturing. "Fujifilm and Universal Display will continue discussions for further possible strategic relationship between the two companies," said Shigetaka Komori, Chairman and Chief Executive Officer of Fujifilm.

“This transaction will almost double Universal Display's patent portfolio,” noted Steven V. Abramson, president and CEO of Universal Display, who called the patent buy and the collaboration with Fujifilm a rare opportunity.

FUJIFILM Corporation is one of the major operating companies of FUJIFILM Holdings. Since its founding in 1934, the company has built up a wealth of advanced, highly versatile technologies in the field of photo imaging, and Fujifilm is now applying these technologies to other new business fields.

Universal Display Corporation (Nasdaq: PANL) is a leader in developing and delivering state-of-the-art, organic light emitting device (OLED) technologies, materials and services to the display and lighting industries. To learn more about Universal Display, please visit www.universaldisplay.com.

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