Syndiant forms joint venture with PE fund in China
Syndiant and Tongtai Jiuyou Equity Investment Partnership Enterprise have formed a Chinese joint venture company that will focus on advancing micro display LCOS technology.
Syndiant has a long-standing commitment to China – in 2010 the company opened a subsidiary in Hong Kong. The new partnership will bring Syndiant closer to the mass consumer market in China.
The new joint venture company will engage in research and development in microdisplay technologies and pico projector products based on Syndiant's patented LCOS technology. It will focus on pico projectors which are used as smart phone accessories and portable video projectors that offer large screen viewing and sharing. In addition, it will focus on new products that are used in wearable display for personal viewing and for projection displays for various automotive applications.
"This is an important and strategic step forward in Syndiant's commitment to the China market," says Dr Daniel Wong, president and CEO of Syndiant. "Tongtai Jiuyou will provide capital that will expand Syndiant's business in the fast growing microdisplay market in China. We are pleased to have the opportunity to join forces with Tongtai Jiuyou as they share our goal in developing display product for the wearable computing and automotive display markets in China."
"Syndiant is a leading LCOS technology company in the microdisplay industry. Its all-digital field color sequential LCOS technology provides the key component for the emerging wearable display and automotive display markets," says Frank Liu, managing director of Tongtai Jiuyou Equity Investment Partnership Enterprise. "Syndiant's light modulating imager has superior HD resolution but comes in a very small size. It offers superb image quality at very low power. Our partnership with Syndiant will have a long-term strategic significance for Hebei province by establishing a strong fast growing display industry in the city of Zhangjiakou China."
The joint venture will be named Zhangjiakou Syndiant Technology. Syndiant will own 60 per cent and Tongtai Jiuyou will own the remaining 40 per cent interest in the joint venture.
The creation of the joint venture is subject to the satisfaction of certain closing conditions, including the approval of relevant government authorities in China.
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