Universal beefs up OLEDs

Universal Display, a New Jersey-based developer of organic light-emitting diode (OLED) technologies, is making two moves to expand its chemistry capabilities. The company will spend close to $100 million to acquire BASF’s OLED intellectual property portfolio, which contains more than 500 issued and pending patents largely involving phosphorescent materials and technologies. Universal says the assets will aid its goal of creating an all-phosphorescent light-emitting stack. BASF ceased OLED research at the end of 2015. Separately, Universal will acquire the contract research firm Adesis for about $36 million. Based in New Castle, Del., Adesis employs more than 40 chemists who support pharmaceutical, electronics, and other companies. Adesis has worked with Universal in recent years to help develop emissive materials for OLEDs.