Boston, MA, 07/23/2013 (nysepost) – Himax Technologies, Inc. (NASDAQ:HIMX) announced yesterday that leading search engine Google Inc (NASDAQ:GOOG) has entered into a agreement by which it will invest in display unit of Himax Technologies and will acquire initially a 6.3 percent shares of Himax Display Inc or HDI, which is the maker of chips especially for Google Glass devices. Google recently introduced Google Glass, computing equipment which can be worn on person’s face so that a computer screen appears above one eye, it will be launched next year publicly.
Google Inc (NASDAQ:GOOG) has the option to acquire up to a stake of 14.8 percent with one year in the developer of commercial applications for liquid-crystal-on-silicon technologies. As result of Google interest in Himax Technologies, Inc. the company’s shares are seeing growth by more than 32%. Himax Display Inc or HDI believes that Google contribution will help the company to expand its capacity, upgrades fund production of the business and increases its production capacity. Himax Technologies, Inc. (NASDAQ:HIMX) holds a majority ownership in Himax Display Inc with 81.5% shares. Jordan Wu President and Chief Executive of Himax said “we are pleasured to enter this agreement with Google and looking forward to build unique and transformational LCOS technologies from collective expertise with Google”.
Shares of Himax Technologies, Inc. (NASDAQ: HIMX) increased by 30.37% to close at $6.74 per share on Monday, with the opening price at $6.62 per share. The company had through the day moved in the intraday price range of $6.51 to $7.11 per share. With 169.57 million outstanding shares in the market, the stock has 18% institutional ownership of capital and $1.14 billion market capitalization. The 52 week low is at $1.49 and 52 week high is at $8.19 per share. There were 38.57 million shares of trading in the company’s stock on Monday and the average volume is at 4.93 million shares per day.