According to a Himax press release the cash will be used to fund production upgrades, expand capacity and further enhance production capabilities at HDI's facilities that produce liquid crystal on silicon (LCOS) chips and modules used in applications including head-mounted display such as Google Glass, head-up display and pico-projector products.
Google also has an option to make buy more shares within one year of closing.
Himax develops commercial applications for LCOS technologies, in-house manufacturing expertise and production lines with proven, high-volume shipment track records. What might be interesting Google is that HDI has devoted its R&D efforts towards head-mounted displays and wearable computing applications. Google sees a big future in wearable computers. (We don't. Ed)