Plastic Logic may sell stake to Russian state-run firm
updated 04:50 pm EDT, Mon August 9, 2010
Plastic Logic in talks with Russia's Rusnano
Low-cost computer chip and e-reader device screen maker Plastic Logic is in late-stage negotiations on selling a majority stake of its company to Rusnano, the Financial Times reports. The Russian state-owned nanotechnology would allegedly get control over the UK-based chipmaker. Under the conditions mentioned by the deal, next-generation Plastic Logic chips would have to be produced in Russia.
China was also said to be interested in Plastic Logic, but the talks didn't flower. Since its founding in 2000, Plastic Logic has received about $200 million in investments. It is currently owned by a number of venture capital firms, including Intel and BASF, among others.
The investment may be necessary, as the e-reading manufacturer has faced major setbacks that have delayed its QUE reader indefinitely and left it without a major source of revenue for the year. It supplies displays to other companies but had been hoping for the QUE to serve as a flagship.
