(Bloomberg) -- Nanosys Inc., a company developing quantum-dot technology for electronic displays, is in talks to go public through a merger with blank-check firm GigInternational1 Inc., according to a person with knowledge of the matter.
A transaction is set to value the combined entity at about $1 billion, though terms aren't final and talks could still fall apart, the person said.
A GigInternational1 spokesman didn't immediately have a comment. Nanosys representatives didn't respond to requests for comment.
Founded in 2001, Silicon Valley-based Nanosys is led by Chief Executive Officer Jason Hartlove. Consumer-electronics firms have shipped more than 35 million devices, including tablets, monitors and televisions, that are based on Nanosys's quantum-dot technology, according to the company, which has said it owns or has exclusive license rights to more than 1,000 issued and pending patents.
Quantum dots are nanometer-size, man-made crystals invisible to the human eye that behave as semiconductors and improve viewer experiences by emitting energy in the form of light, according to the Nanosys website. They are used for displays that “deliver vivid color, lifelike brightness and incredible power efficiency,” the company has said.
GigInternational1, led by Chairman Avi Katz and CEO Raluca Dinu, raised $209 million in a May initial public offering. The special purpose acquisition company has said it intends to focus on firms in the technology, media, telecommunications, aerospace, defense, mobility and semiconductor industries.
Other GigCapital vehicles have reached deals with companies including UpHealth Inc., Lightning eMotors Inc. and BigBear.ai.
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