Shares of Kopin (NASDAQ: KOPN) are up nearly 13% after the wearable technologies company announced its strategic relationship with China-based Goertek Inc., a global technology company that provides vertically-integrated total solutions and services to companies such as Samsung, Sony (NYSE: SNE),and Microsoft (NASDAQ: MSFT). Per the agreement, Kopin will sell 7,339,000 shares of its common stock to Goertek for $23.8 million ($3.25 per share). The two companies have also agreed to jointly develop and commercialize a range of technologies and wearable products. The stock sale is subject to standard closing conditions and is scheduled for completion by January 27, 2017. “Our partnership with Goertek will enable Kopin to leverage their world class capabilities to commercialize our innovative components and further improve our system products,” Kopin president and CEO Dr. John C.C. Fan stated in the news release.
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About Kopin
Kopin Corporation is a developer and provider of innovative wearable technologies and solutions for integration into head-worn computing and display systems to military, industrial and consumer customers. Kopin’s technology portfolio includes ultra-small displays, optics, speech enhancement technology, system and hands-free control software, low-power ASICs, and ergonomically designed smart headset reference systems. Kopin’s proprietary components and technology are protected by more than 300 global patents and patents pending. For more information, visit Kopin’s website at www.kopin.com
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