Plessey Semiconductors, based in Plymouth, specializes in microLED display technology and collaborated with Meta on microLED displays for augmented reality glasses. Haylo Labs, a subsidiary of Haylo Ventures, acquired Plessey in a transaction that closed on August 19. Haylo secured the acquisition funding through a five-year $100 million loan from Goertek Inc, a Chinese maker of AI smart glasses and AR products based in Shandong. The UK government cleared the transaction following a review under the National Security and Investment Act 2021 (NSIA). Law firm Addleshaw Goddard confirmed governmental approval and described Goertek as a trusted partner to leading technology brands.
Haylo Labs' acquisition of Plessey has been approved by the UK government having cleared the necessary national security checks under the NSIA.
Goertek is "a trusted partner to many of the world's leading technology brands with longstanding relationships with US and European firms," Addleshaw Goddard claimed.
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