Russia’s state-backed Russian Corporation of Nanotechnologies (Rusnano) will invest about $650 million in Plastic Logic, Financial Times reports. The nanotechnology corporation will pay an initial $150 million to get an immediate stake of about 25% in Plastic Logic.
The Russian government may take control of the cheap plastic microchips maker when the rest of the finance is arranged. Under the new Russian-backed plans, Plastic Logic will set up a new factory near Moscow and boost its liaison with Russian scientists.Click here for the story from Financial Times.
Click here for the additional coverage from The Wall Street Journal.