Under the agreement, the two companies join their know-how to accelerate the development of new products and further advance OLED technology. The joint development program brings together Universal Display's expertise in phosphorescent OLED emitters and transport materials from Merck KGaA.
According to a statement, the goal is to develop higher performing OLED stacks for OLED manufacturers around the world.
Shares were down 5% in intraday trading.
Price: 195.03, Change: -10.46, Percent Change: -5.09
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