Google Takes 6.3% Stake In Google Glass Tech Supplier Himax Display As It Preps To Ramp Up Production

Google’s stake is a sign that Glass production is ramping up: the company says that the invesmtment is being made to “fund production upgrades, expand capacity and further enhance production capabilities.”

google-glassShares of semiconductor maker Himax Technologies are jumping in pre-market trading with the news that Google has taken a6.3% stake in Himax Display (HDI). HDI is a subsidiary of the Taiwanese company that focuses on liquid crystal on silicon (LCOS) chips and modules, which are used in Google Glass and other products. HDI also counts Kleiner Perkins, Khosla Ventures and Intel as investors.

Google’s stake is a sign that Glass production is ramping up: the company says that the invesmtment is being made to “fund production upgrades, expand capacity and further enhance production capabilities.”

It’s not clear what the valuations of HDI or Google’s stake are. Jackie Chang, the CFO of Himax, tells us the company is not making that information public right now. “We are not disclosing the information,” she told me in an email earlier. “This announcement allows us to disclose information that is required by the SEC. We are delighted to enter into the agreement with Google.” That SEC filing is here.

Himax Technologies itself, which trades on NASDAQ, has a current market cap of $876.7 million. Shares closed down on Friday at $5.17 (down 3.36%) but are trading nearly 40% higher before the market opens so will likely see a pop today.

 

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Source: techcrunch.com