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Canon to Buy out Toshiba's Stake in SED Inc.

Canon has agreed to buy out Toshiba Corp. in the joint venture the two companies established in September 2004 to create SED (Surface-conduction Electron-emitter Display) TV panels.

The move is meant to stave off "prolonged litigation" that was expected from a lawsuit filed by Nano-Proprietary. In Nano's lawsuit, the company claims that its 1999 agreement to license SED technology to Canon did not extend to Toshiba.

On completion of the purchase, SED Inc. will become a wholly owned subsidiary of Canon, effective January 29, 2007.

Canon says that SED TVs will be introduced in Japan this year, but plans for mass production will be reassessed.

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