Jul 22 2013, 10:27am CDT | by Sumayah Aamir
Google is going to inject a really good amount in "Himax" to boost its Glass production. Google Inc. has entered today into a definitive agreement with Himax Technologies Inc. to invest in the company's subsidiary, Himax Display Inc. ("HDI"). Himax has officially announced today that Google is going to buy 6.3 percent stakes in HDI. Thos cash injection from the search giant will help HDI to manufacture "upgrades expand capacity and further enhance production capabilities at HDI's facilities."
"Himax" is a Taiwanese company that manufactures liquid crystal on silicon chips (LOCS) and modules used in different apps and head-mounted displays (HMD), head-up display (HUD) and pico-projector products. Google Glass is the most famous HMD in which HDI LOCS are used. Google really wants to push its sales through Google Glass which is the basic purpose of this purchase. Google can also expand its stakes upto 14.8% within a year under this agreement. The transaction is expected to close in the current quarter.
Himax President and CEO Jordan Wu states that "Google is a preeminent global technology leader. We are delighted to receive this investment and to form a strategic partnership with Google." Himax is already having investments from Intel Capital Corp, KPCB Holdings Inc. and Khosla Ventures I L.P. Google is also added into its investors today. No other financial details of this deal are disclosed.
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