- Google Chooses Not to Exercise Its Investment Option
- Himax and Google to Remain Strategic Partners on Google Glass
TAINAN, Taiwan, Oct. 21, 2014 (GLOBE NEWSWIRE) -- Himax Technologies, Inc. (Nasdaq:HIMX) ("Himax" or "Company"), a leading supplier and fabless manufacturer of display drivers and other semiconductor products, today announced that Google Inc. has decided not to exercise its previously issued purchase option to make an additional investment into Himax's subsidiary, Himax Display Inc. ("HDI"). Himax has been authorized by Google to make the following statement: "Google continues to work closely with Himax as a strategic partner on future technologies and products and will remain a board observer."
Subsequent to Google's first round investment in the Company's HDI subsidiary in October 2013, Himax has formed a strategic partnership with Google whereby Himax is the provider of liquid crystal on silicon ("LCOS") microdisplay technology that Google has recognized as the technology of choice for head-mounted displays (HMD) such as Google Glass. Since the third quarter of 2013, HDI has been expanding capacity and further enhancing production capabilities to meet demand for our LCOS product line.
"Google is one of the world's leading technology companies and innovators," stated Jordan Wu, President and Chief Executive Officer of Himax. "Despite Google's decision not to exercise its investment option in our HDI subsidiary, our continued close partnership with Google is invaluable as we aim to become a leading supplier to wearable technology companies and help to make the future of wearable products a reality. The on-going development and collaboration between Google and HDI validates our LCOS technology as the most superior and best suited microdisplay for wearable devices such as Google Glass," concluded Mr. Wu.
Founded in 2004, Himax Display, Inc. has focused on developing commercial applications for LCOS technologies, in-house manufacturing expertise and production lines with proven, high-volume shipment track records. Over the last few years, HDI has devoted its research and development of its LCOS technology for new applications of head-mounted display and other wearable computing applications.
About Himax Technologies, Inc.
Himax Technologies, Inc. (HIMX) is a fabless semiconductor solution provider dedicated to display imaging processing technologies. Himax is a worldwide market leader in display driver ICs and timing controllers used in TVs, laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and many other consumer electronics devices. Additionally, Himax designs and provides controllers for touch sensor displays, LCOS micro-displays used in palm-size projectors and head-mounted displays, LED driver ICs, power management ICs, scaler products for monitors and projectors, tailor-made video processing IC solutions and silicon IPs. The company also offers digital camera solutions, including CMOS image sensors and wafer level optics, which are used in a wide variety of applications such as mobile phone, tablet, laptop, TV, PC camera, automobile, security and medical devices. Founded in 2001 and headquartered in Tainan, Taiwan, Himax currently employs over 1,700 people from three Taiwan-based offices in Tainan, Hsinchu and Taipei and country offices in China, Korea, Japan and the US. Himax has 2,434 patents granted and 875 patents pending approval worldwide as of September 30, 2014. Himax has retained its position as the leading display imaging processing semiconductor solution provider to consumer electronics brands worldwide.
Forward Looking Statements
Factors that could cause actual events or results to differ materially include, but not limited to, general business and economic conditions and the state of the semiconductor industry; market acceptance and competitiveness of the driver and non-driver products developed by the Company; demand for end-use applications products; reliance on a small group of principal customers; the uncertainty of continued success in technological innovations; our ability to develop and protect our intellectual property; pricing pressures including declines in average selling prices; changes in customer order patterns; changes in estimated full-year effective tax rate; shortages in supply of key components; changes in environmental laws and regulations; exchange rate fluctuations; regulatory approvals for further investments in our subsidiaries; our ability to collect accounts receivable and manage inventory and other risks described from time to time in the Company's SEC filings, including those risks identified in the section entitled "Risk Factors" in its Form 20-F for the year ended December 31, 2013 filed with the SEC, as may be amended.
CONTACT: Company Contacts: Jackie Chang, CFO Himax Technologies, Inc. Tel: 886-2-2370-3999 Ext.22300 Or US Tel: +1-949-585-9838 Ext.252 Fax: 886-2-2314-0877 Email: firstname.lastname@example.org www.himax.com.tw Nadiya Chen, Investor Relations Himax Technologies, Inc. Tel: 886-2-2370-3999 Ext.22513 Fax: 886-2-2314-0877 Email: email@example.com www.himax.com.tw Investor Relations- US Representative Scott Powell, Managing Director PCG Advisory Group, LLC Tel: +1-646-780-8850 Email: firstname.lastname@example.org www.pcgadvisory.com
Source:Himax Technologies, Inc.