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Himax Technologies up 31 Percent After Announcing Deal with Google (HIMX)

In a press release Monday, Himax Technologies (NASDAQ: HIMX) announced that its subsidiary, Himax Display Inc. had entered into an agreement with Google (NASDAQ: GOOG). Share are up 31 percent in early trading.

The Taiwan-based company said that Google will fund various production upgrades at facilities that manufacture crystal on silicon chips and modules used in Google’s Google Glass.

“Google is a preeminent global technology leader. We are delighted to receive this investment and to form a strategic partnership with Google,” stated Jordan Wu, President and Chief Executive Officer of Himax. “Beginning the second quarter of this year, we had already begun expanding capacity to meet demand for our LCOS product line. This investment from Google further validates our commitment to developing breakthrough technologies and state-of-the-art production facilities. We look forward to leveraging this investment and our collective expertise with Google to create unique and transformational LCOS technologies for many years ahead.”

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Disclosure: At the time of this writing, the author had no position in the company mentioned.


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