Samsung apparently buys Cynora and lays off employees

According to a media report, the South Korean electronics group is securing patents for new displays with the takeover. Samsung appears to be less interested in the employees.

According to a report by the news agency Bloomberg news agency, Samsung Display Co. has bought the German start-up Cynora. The news agency cites people involved in the deal. There is no official confirmation yet. Samsung invested 25 million euros in the start-up together with LG back in September 2017. The Cynora Group is now said to have been sold in full to the South Korean company for 300 million US dollars. Through the transaction, Samsung has acquired the intellectual property and technology of Cynora. However, Cynora's developers and engineers have apparently been left behind. The company is said to have laid off a number of employees in recent weeks. It is not yet clear whether this applies to all employees or just some of them.

Thomas Baumann and Michael Bächle founded Cynora in 2008. The company, headquartered in Bruchsal, develops so-called OLED displays. The technology is intended to improve the performance efficiency and color contrast of conventional displays. According to its own information, the company has 700 patents. The patents are likely to belong to Samsung after the takeover. According to Bloomberg, some investors are of the opinion that Cynora was short of cash and therefore needed an exit.