Samsung has agreed to buy Novaled for $347 million, reports the Wall Street Journal.
Novaled, which is based in Germany, creates OLED lighting and display technology. Samsung is purchasing Novaled through one of its affiliates, Cheil Industries. The company said it expects the acquisition to help improve its next-generation display technology.
Samsung intends to use Novaled to help it create better OLED panels across a range of its own products, such as mobile devices and television sets
