Universal Display Corporation, enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, announced today that through its wholly-owned subsidiary UDC Ireland Limited, it has acquired the OLED Intellectual Property (IP) assets of BASF SE, the world's leading chemical company. Representing 15 years of research and development, the assets include over 500 issued and pending patents around the world, in 86 patent families. Largely consisting of phosphorescent materials and technologies, BASF’s OLED portfolio has an average lifetime of 10 years. The purchase price for the acquisition is approximately EUR 87 million (US $96.26 million).