Vitex Systems signs licensing agreement with ANS

Vitex Systems today announced that it has signed a license agreement with Advanced Neotech Systems (ANS) Corporation of Korea. The agreement includes a technology transfer package from Vitex to ANS, and gives ANS the non-exclusive rights to make and sell GuardianTM thin-film encapsulation systems, which can be used in the manufacturing of organic light emitting diode (OLED) displays. While the financial terms of agreement were not disclosed, the license includes an upfront fee and on-going royalty payments based on tool sales.

Thin-film encapsulation is the obvious trend for significant cost reduction and reduced thickness of OLED displays on rigid substrates, and is a must for OLED displays on flexible substrate. Vitex is the leading technology supplier in this field, and we are excited about our ongoing relationship with them, said KB Bae, president of ANS. With the recent investment in our company by SNU Precision coupled with our license agreement with Vitex, we now have the financial strength and technological capability to address the developing OLED display market. Moreover, the addition of Guardian to our deposition equipment portfolio will allow us to be more competitive in the marketplace.

Commenting on its agreement with ANS and licensing successes, Chyi-Shan Suen, director of sales and marketing for Vitex, said, ANS has been one of Vitex's equipment partners for the past two years. Signing this license agreement not only validates ANS’s confidence in Vitex’s BarixTM technology and IP portfolio strength, but also reaffirms the growing adoption and need of our thin-film encapsulation technology to enable future OLED displays. He adds, This announcement follows on the heels of a licensing agreement signed in September with a major optical film manufacturer for our proprietary Flexible Glass technology, which also illustrates the success of our new licensing model."