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Syndiant Announces Joint Venture with Private Equity Fund in China
Syndiant and Tongtai Jiuyou Equity Investment Partnership Enterprise have formed a Chinese Joint Venture Company that will focus on advancing micro display LCOS technology.
DALLAS – (January 8, 2014) – Syndiant, a leader in high resolution microdisplays, announced that it has reached an agreement to form a joint venture company with Tongtai Jiuyou, based in Zhangjiakou China.
Syndiant has a long-standing commitment to China. In 2010, Syndiant opened a subsidiary in Hong Kong and forming this joint venture company will expand this commitment. This strategic partnership will bring Syndiant closer to the mass consumer market in China.
The new joint venture company will engage in research and development in microdisplay technologies and pico projector products based on Syndiant's patented LCOS technology. This new JV will focus on pico projectors which are used as smart phone accessories and portable video projectors that offer large screen viewing and sharing. In addition, it will focus on new products that are used in wearable display for personal viewing and for projection displays for various automotive applications.
"This is an important and strategic step forward in Syndiant's commitment to the China market," said Dr. Daniel Wong, President and CEO of Syndiant. "Tongtai Jiuyou will provide capital that will expand Syndiant's business in the fast growing microdisplay market in China. We are pleased to have the opportunity to join forces with Tongtai Jiuyou as they share our goal in developing display product for the wearable computing and automotive display markets in China."
"Syndiant is a leading LCOS technology company in the microdisplay industry. Its all-digital field color sequential LCOS technology provides the key component for the emerging wearable display and automotive display markets," said Mr. Frank Liu, Managing Director of Tongtai Jiuyou Equity Investment Partnership Enterprise. "Syndiant's light modulating imager has superior HD resolution but comes in a very small size. It offers superb image quality at very low power. Our partnership with Syndiant will have a long-term strategic significance for Hebei province by establishing a strong fast growing display industry in the city of Zhangjiakou China."
According to the agreement, the new joint-venture will be named Zhangjiakou Syndiant Technology Co., Ltd. Syndiant will own 60 percent and Tongtai Jiuyou will own the remaining 40 percent interest in the joint venture. The creation of the joint venture is subject to the satisfaction of certain closing conditions, including the approval of relevant government authorities in China.
Syndiant will be at the Consumer Electronics Show in Las Vegas January 7-10th 2014 and will demonstrate their new HD LCOS solution. Syndiant will have a private suite in the Las Vegas Hotel adjoining the Convention Center.
About Syndiant, Inc.
Syndiant provides high resolution light modulating chips used in pico projectors small enough to embed in wearable computing solutions and robust enough for automotive applications. Syndiant's patented all digital technology provides outstanding image quality that is highly reliable. The company has offices in Dallas, Taiwan and Hong Kong. www.syndiant.com.