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Rainbow Displays Completes Liquidation

7/20/2005 01:33:00 PM Eastern

Endicott, N.Y. — Rainbow Displays Inc., a developer and supplier of LCD technologies, based here, will soon complete its liquidation process with the sell-off of up to 90 percent of its intellectual property.

This sale encompasses 50 patents, including those covering tiling technology used to create seamless large LCD panels by assembling together smaller LCD panels.

Ed Sinni, Rainbow’s senior VP, said he expects to garner enough from the sale of the company’s assets and patents to pay most of the company’s 50 employees, and paying investors and creditors “as best as we can.”

Sources said Philips, which had a 25 percent investment stake in the company, was purchasing Rainbow’s intellectual property assets for undisclosed applications. Sinni declined to name the purchaser but confirmed that both Philips and Epson were among the parties interested in acquiring Rainbow’s IP holdings.

Remaining company assets will be auctioned off, shortly, Sinni said.

Rainbow sold LCD displays largely into commercials channels and through video display distributor Electrograph. It had a co-marketing relationship with Philips for commercial sales of video displays, Sinni said.