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Kopin Corp surges as Chinese VR giant takes a stake

Goertek is acquiring 7.34mln Kopin shares for US$23.85mln, equivalent to US$3.25 a share.

Virtual reality headset
Who saw this coming?

Chinese technology company Goertek has taken an interest in wearable computing technology developer Kopin Corporation (NASDAQ:KOPN).

Goertek is acquiring 7.34mln Kopin shares for US$23.85mln, equivalent to US$3.25 a share.

Kopin’s shares shot up 12% to US$3.18 on the news.

Goertek claims to be the world’s leading designer and manufacturer of virtual reality/augmented reality and other wearable products.

It will work with Kopin to jointly develop and commercialize a range of technologies and wearable products.

The goal of the partnership is to use Goertek’s industry-leading expertise in design and manufacturing to further develop and sell a range of wearable products incorporating Kopin technologies and components.

“Our partnership with Goertek will enable Kopin to leverage their world class capabilities to commercialize our innovative components and further improve our system products,” said Dr John Fan, president and chief executive officer of Kopin.

Quick facts: Kopin Corporation

Price: 0.37 USD

NASDAQ:KOPN
Market: NASDAQ
Market Cap: $31.42 m
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