Harry Böhme tells the cleantech exit story of Novaled to Samsung
Ecosummit TV: CFO Harry Böhme tells the cleantech exit story of Novaled to Samsung at ECO13 London. Founded in 2001, the Dresden-based startup is a world leader in OLED (Organic LED) materials and Samsung is the biggest customer. In September 2011, Corporate VC Samsung Ventures invested and Novaled’s management made sure to limit Samsung’s stake and control to 10%. 2 years later, Samsung Cheil Industries (aka Samsung Chemical) and Samsung Electronics acquired the remaining 90% for €260M, including an earnout of €30M bound to reaching further milestones. Novaled’s revenues grew from €10M in 2010 to €26M in 2012 (price sales ratio of 10). With €29M of venture capital injected in Novaled the returns are pretty healthy.
Read moreCleantech exit – Samsung buys Novaled from Dresden
Congratulations to Novaled and its founders and investors which include eCapital, Germany’s most active cleantech VC. This is a fantastic exit that brings hope and money to the cleantech startup industry in Europe. Samsung Cheil Industries (aka Samsung Chemical) and Samsung Electronics buy 50% and 40% respectively of the Dresden-based late stage startup for a total of €260M of which €30M are bound to reaching further growth targets. Corporate VC Samsung Ventures maintains their 10% stake in the transaction. Founded in 2001, Novaled is a world leader in OLED (Organic LED) materials. Following a fabless strategy from the beginning, Samsung is Novaled’s biggest customer and it comes as no suprise that they turn out to be the acquirer. Novaled’s revenues grew from €10M in 2010 to €26M in 2012. Thus, Novaled’s valuation at exit is 10 times the 2012 revenues or, in other words, the price sales ratio is 10.
Read moreEcosummit TV – ECO11 – Harry Boehme – Novaled
Harry Böhme, CFO of Novaled, gives an update on his company at ECO11. Novaled is the fabless European leader in Organic LED (OLED) and one of the most exciting Cleantech startups in Germany. Founded in 2001, Novaled is profitable and made revenues of €10M in 2010 with 100 employees. Among Novaled’s investors is the German VC eCapital. Unfortunately, Novaled does not plan another financing round and may rather consider an IPO or tradesale some time in the future.
Read moreEcosummit TV – Novaled CFO Harry Boehme
Our new Ecosummit TV episode brings you more unknown secrets and untold stories about Europe’s leading fabless OLED technology provider. Jan Michael Hess interviews the Novaled CFO Harry Boehme to warm you up for ECO11 on 24-25 March 2011 in Berlin. This video also features Dr. Mike Zoellner who is a project leader with funky glasses in the chemistry lab of Novaled. We love the fact that the future of organic electronics is a teamwork of the best scientists in chemistry, physics, engineering and software. Thanks a lot for all the lessons and a great time together in Dresden. We will be back!
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