E Ink agrees to buy SiPix shares in a bid to expand its portfolio of ePaper products
E Ink Holdings, a company with a Cambridge history and some of the technology behind Amazon.com’s Kindle e-reader, said Friday it has agreed to buy 82.7 percent of the shares in SiPix Technology Inc. and its wholly owned subsidiary SiPix Imaging Inc., a maker of electronic paper displays with facilities in California and Taiwan.
E Holdings said its board has approved an amount of about $50 million to purchase up to 100 percent of SiPix’s shares. The exact amount of the purchase won’t be known until the transaction is completed.
The combined company will offer a vast portfolio of ePaper products that will allow it to expand its existing markets and diversify into newer applications, said Taiwan-based E Ink in a press release.
E Ink started as a spin-off from MIT’s Media Lab. In 2009, it was purchased by a Taiwanese display maker Prime View International. After the transaction closed, Prime View changed its name to E Ink Holdings. E Ink technology is used in many e-readers, including the Kindle and the Barnes & Noble Nook line. The company has roughly 250 employees in Massachusetts.
In a statement Friday about his company’s proposed purchase of SPix stock shares, E Ink Holdings chairman Scott Liu said: “E Ink is committed to growing the ePaper market and the purchase of SiPix shares is part of our long term growth strategy. Our goal is ‘E Ink On Every Smart Surface’ and we are continuing to make investments in technologies that will open new markets for our ePaper displays.”Chris Reidy can be reached at firstname.lastname@example.org.