CopyTele, Inc. (COPY) shares jump on AU deal
Posted on: May 31st, 2011Written by:
CopyTele, Inc. (OTCBB:COPY) shares jumped 76 percent to 44 cents Tuesday morning, on news the Company will be signing two licence agreements with AU Optronics Corp. (NYSE:AUO) to produce and market CopyTele’s E-Paper(R) and Nano Display technologies. CopyTele dealt in more than 452,000 as noon ET approached Tuesday, trampling over an all-day average of 88,000.
Under the agreements, AUO will pay CopyTele aggregate license fees of $10 million, $3 million payable as an initial fee and $7 million upon completion of certain conditions for the respective technologies.
CopyTele CEO Denis A. Krusos, commented, “We are pleased to have an agreement with AUO, one of the world’s leaders in flat-panel displays. With the addition of AUO, CopyTele has the opportunity to bring its display technologies into all phases of the world-wide display marketplace.”
The company’s advanced E-Paper® electrophoretic display technology utilizes specially coated particles in combination with a unique type of pixel structure to create an image. This new technology is applicable for electronic books and other low-power applications.
AUO is a global leader of thin film transistor liquid crystal display panels (TFT-LCD). AUO is able to provide customers with a full range of panel sizes and comprehensive applications, offering TFT-LCD panels in sizes ranging from 1.2 inches to greater than 71 inches.
