Invesco Asset Management’s funds have agreed to acquire 46.7 million shares in the publicly traded Oslo company for NOK3.00 per share for a total of NOK140 million, or $24 million. That will give Invesco an addition 10 percent ownership of Thin Film Electronics. Earlier this month, Invesco acquired 13 percent of Thin Film in a private placement.
“Since Invesco’s original investment, we have seen intense international interest in Thinfilm,” said Davor Sutija, CEO of Thinfilm. “The investment announced today will provide a tremendous opportunity to deliver our vision for the Internet of Everything, in which printed electronic objects become part of the network through near-field wireless communication.”
The company is selling its printed electronics under the Thinfilm Memory brand name, and it has created sensors, displays and other devices for use in a variety of goods.
Published: January 11, 2013