Technology Industry
Industry: Email Alert RSS Feed#10m cash for CDT
Electronics Times, May 31, 1999
Cambridge Display Technology (CDT) has been valued at #70m by two US venture capital firms which have invested an additional #10m in the company.
Kelso Investment Associates and Hillman Capital have made an offer for the company, which will see current investors realise huge returns on their stakes. Danny Chapchal, CEO of CDT, estimates that Kelso could end up with a 60% share of the company.
Young Associates, the investment vehicle of Lord Young which made a #2m investment in CDT two years ago, stands to make a profit of #20m.
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The #10m funding will allow CDT to invest in facilities and equipment. It is to move to new premises next month.
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