Ynvisible Interactive signs binding letter of intent to acquire Consensum Production AB
Ynvisible Interactive Inc. (Vancouver, Canada) has entered into a binding letter of intent with Consensum Production AB from Sweden, dated 8 July 2019, which sets out the basic terms and conditions pursuant to which Ynvisible will acquire 100% of the issued and outstanding shares of Consensum.
The acquisition of Consensum is the solution for Ynvisible to establish high volume roll-to-roll printing of electrochromic displays, and to further expand its production and system integration capabilities of other printed electronic components and systems.
The proposed transaction is intended to position Ynvisible as a leading provider of electrochromic printed display solutions for high-volume applications. The combined entity will leverage Ynvisible's technical expertise, customer base and experienced management team.
Consensum is a contract manufacturer of printed electronics and hybrid systems. The company is located in the city of Linkoping, Sweden, and with active collaborations with partners in the neighbouring city Norrkoping. The twin-city region has been a leading hub in printed and paper-based electronics for over 25 years. Linkopings univeristet and applied research institute RISE (formerly Acreo) have a long history of research and development in printable electrochromics dating back to the 1980's.
Consensum's team and owners are tightly connected to this ecosystem. The team has accumulated over a decade of experience in roll-to-roll printing of different electronic components, including displays. The company operates a full-scale roll-to-roll production line and processes required for manufacture, converting and testing of printed electronics components and systems. Until now the focus has been that of a contract manufacturer of printed electronics and hybrid systems, and Ynvisible has been one of Consensum's clients.
Leif Ljungqvist, acting CEO of Consensum: "We see a growing market for printed electronics worldwide and this acquisition is a next logistical development step for Ynvisible who has been one of our clients to develop and advance this technology."
This will also strengthen the position of the region as a world-leading hub for printed electronic components and systems. CEO Jani-Mikael Kuusisto of Ynvisible commented: "Increasing and further enhancing our company's manufacturing capabilities is a central target, as we advance our growing base of prototyping client cases into high-volume uses. We're impressed by the roll-to-roll manufacturing experience and capabilities within Consensum, and the rich set of complementing printed and paper electronics competences and facilities within the Linkoping-Norrkoping ecosystem. By investing into Consensum, we look to increase our manufacturing and technology transfer capabilities and become a part of this strong ecosystem in printed electronics, with the aim of accelerating our business."
Caption: Ynvisible wants to strengthen its position by acquiring Consensum (photo: Ynvisible)