Samsung buys a German company and fires all employees

Samsung Display bought and dismantled the German company Cynora. The Koreans just wanted the technology – the employees were left behind.

Korean display manufacturer Samsung Display bought German start-up Cynora for US $ 300 million. This was reported by the economic news agency “Bloomberg”, citing people familiar with the process.

However, the Samsung subsidiary only took over the start-up’s intellectual property and technology, but not the company’s employees. Bloomberg reports that Cynora has already fired all employees as part of the purchase agreement. According to the website, the Bruchsal-based company employed more than 120 people.

Cynora was a German foundation with over 120 employees

Cynora was founded by former employees of the Karlsruhe Institute of Technology (KIT) and developed new materials for OLED displays. On the one hand they should make displays even cheaper, on the other hand they ensure an even higher contrast ratio between the individual colors. Samsung Display, but also competitors like LG, were already involved in the company: with the purchase, Samsung Display claims the technology for itself.

Some insiders believe Cynora ran out of money and needed a sale to pay off backers.

Samsung Display is a full subsidiary of the Samsung Electronics group and develops and manufactures screens not only for its own devices, but for the entire industry. The displays of Apple’s current iPhone 13 Pro and 13 Pro Max are said to be manufactured by Samsung.

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