By Colin Kellaher

OLED microdisplay maker eMagin Corp. said Wednesday it agreed to be acquired by a unit of South Korean technology giant Samsung Electronics in a deal valued at about $218 million.

Under the agreement, Samsung would pay $2.08 a share in cash for eMagin, a roughly 10% premium to Tuesday's closing price of $1.89 for the Hopewell Junction, N.Y., company.

The deal is slated to close in the second half of the year.

Trading in shares of eMagin was halted premarket on Wednesday.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

May 17, 2023 09:26 ET (13:26 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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