Innova Dynamics Inc, an electronic materials company and the developer of the Innlay™ technology platform and TPK Holding Co Ltd announced that after 3-years of close collaboration under a 'Joint Development Agreement and Framework for Touch-Sensor Strategic Alliance,' TPK has consummated an acquisition with Innova Dynamics.
The co-founder and first CTO of TPK, Eric Chang, explains, "Early on, TPK realized that Innova Dynamics' Innlay™ silver nanowire inks and patterning pastes had enormous potential to disrupt touch applications in consumer electronics. As the worldwide leader in touch solutions, TPK is uniquely suited to adopt and implement the Innova Dynamics technology into our product offerings, further advancing our touch solutions and our competitive lead in this industry."
Michael Aronson, the founder and Managing Partner of MentorTech Ventures and long-term investor in Innova Dynamics says, "It's been gratifying to watch Innova Dynamics grow from a small team of talented entrepreneurs at the University of Pennsylvania, into a global operation with locations spanning the US, Taiwan, and Japan, launch a product that underpins the industry's best-in-class transparent conductive films, and now realize this acquisition."
"Innova Dynamics has formed strong partnerships with a number of leading companies in chemicals, materials, and the consumer electronics ecosystem." notes Dan Button, CEO of Innova Dynamics just prior to the acquisition. "After collaborating with these strategic partners across the value chain to develop and launch our breakthrough electronic materials products, I am excited to see where our touch partner TPK can take this technology next, particularly with respect to printed touch sensors and flexible devices."
"It has been an amazing journey, building this Company and these market-leading products from the ground up," concludes Arjun Srinivas, co-founder and Chief Strategy Officer of Innova Dynamics just prior to the acquisition. "I'm incredibly grateful for our family of employees, our partners, and our investors. I'm honored that the industry leader TPK has recognized the value that we've built over the years. This acquisition is a great ending to the Innova Dynamics' story."
38 Degree Advisors served as the exclusive financial advisor to Innova Dynamics in this transaction. The terms and details of the transaction were not disclosed.
About TPK Holding Co. Ltd:
TPK is a pure touch solution provider and the inventor of transparent projected capacitive touch technology. TPK's products include touch panels for wearable, smartphone, tablet, NB, all-in-one PC, and automotive applications. With vertically integrated manufacturing facilities, TPK provides one-stop shopping service from R&D development, product design to mass production which shortens product development and time-to-market. The company was founded in 2003 with manufacturing facilities in Xiamen of Fujian Province, PRC, and is headquartered in Taipei, Taiwan. Additional information can be found at www.tpk.com/.
About Innova Dynamics, Inc:
Innova Dynamics is a venture-backed electronic materials company with a far-reaching platform that can transform the performance of surfaces, polymers and devices. Founded in 2007, by graduates of the Jerome Fisher Program in Management and Technology, this University of Pennsylvania spin-off successfully developed and commercialized the Innlay™ technology platform. With the potential to disrupt numerous industries spanning consumer electronics, energy, lighting and healthcare, the Innlay™ technology platform encompasses a simple, versatile surface engineering technology that enables devices with unrivaled cost, performance, and design flexibility. Innova Dynamics developed products to replace the use of Indium Tin Oxide and photolithography in the touch sensor and display industries. With a team spanning the US, Japan, and Taiwan, Innova Dynamics has brought this breakthrough technology to market by partnering with dominant global companies spanning the consumer electronics value chain. For more details about Innova Dynamics and our partners, go to www.innovadynamics.com .
Source: Innova Dynamics