Kopin Corporation (NASDAQ:KOPN) has today moved forward to make public its previous move where it was able to successfully close the transaction deal with Goertek Inc. It goes without saying that it was a great deal considering that provider obtained about $24.6 Million dollars in gross proceeds. That was of course from Goertek upon the exchange of about 7.6 million shares of Kopin stock.
As a matter of fact, Goertek has been operating for a number of years focusing majorly in the designing and manufacturing of a wide range of consumer electronics products for brand customers including audio products, virtual and augmented reality (VR and AR) headsets, and wearables. The provider is headquartered in Weifang China and has generated a high number of employment opportunities for the locals.
According to some close sources to the company, it has been revealed that the provider will be collaborating with Goertek in a joint move to develop as well as commercialize a wide range of technologies and wearable products and of course this is quite a progressive move.
The President, who is at the same time the CEO for Kopin, Dr. John C in a statement said, “We are pleased to have Goertek as a large shareholder of Kopin since the interests and core capabilities of our two companies are very complimentary. We have been working closely together, leveraging Goertek’s leading product development and manufacturing capabilities to commercialize our high-performance technologies for VR, AR and audio products.”
The way the provider is going about it business operations is nothing new. It is something a lot of the top providers do in order to generate high revenues and enable expansions. Collaborations pull a long with numerous benefits that help companies forge forward and the two providers look forward to brighter days ahead.
Goertek’s CEO, Long Jiang stated, “This agreement further aligns the interests of both Goertek and Kopin. We will utilize Kopin’s industry leading technologies to create a range of wearable products with the most advanced features for our customers. We are excited to see the initial products utilizing Kopin key components hit the market later this year.”
A lot is on the way, we just need to be patient.
