Universal Display Corporation, through its wholly-owned subsidiary UDC Ireland Limited, has acquired the OLED Intellectual Property (IP) assets of BASF SE. Representing 15 years of research and development, the assets include over 500 issued and pending patents around the world, in 86 patent families.

Largely consisting of phosphorescent materials and technologies, BASF's OLED portfolio has an average lifetime of 10 years. The purchase price for the acquisition is approximately €87 million.

"We are pleased to enhance our extensive key patents in phosphorescent materials with BASF's complementary OLED IP portfolio," said Steven V. Abramson, President and Chief Executive Officer of Universal Display.

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