International law firm Addleshaw Goddard has advised Haylo Labs on its acquisition of Plessey Semiconductors, the UK’s leading innovator in microLED display technology. As part of the deal, Haylo Labs will invest over £100 million to expand Plessey’s manufacturing capacity and grow its skilled workforce, strengthening the UK’s leadership in immersive computing and next-generation technologies.

Founded in 1956 and based in Plymouth, Plessey is one of Europe’s oldest semiconductor companies and the world’s most advanced microLED business. With a 270-strong team and a robust intellectual property portfolio, Plessey designs, manufactures and engineers next-generation display technologies entirely in-house.

MicroLED displays — where each pixel is a microscopic LED — are set to transform industries from AR/VR to automotive and consumer electronics. Market forecasts predict that the global microLED sector will surge from £2.7 billion ($3.7 billion) in 2024 to more than £592 billion ($800 billion) by 2034, driven by demand for brighter, sharper and more energy-efficient displays.

The same fabrication processes can also be applied to optical computing units (OCUs), next-generation light-based chips that are faster and more energy-efficient than silicon processors, placing Plessey at the centre of the hardware revolution powering AI and immersive computing.

Haylo Labs’ acquisition marks a pivotal moment for the sector and will enable the scaling of Plessey’s innovation from low-volume manufacturing and R&D to high-volume production, further boosting UK leadership in AR/VR and optical computing.

The Addleshaw Goddard team advising Haylo Labs was led by Corporate Finance Partner James Dawson. Alongside him were Partners Damon Rosamond-Lanzetta (Technology), Al Mangan (Competition), Georgina Powling (IP), and Carly Gulliver (Corporate); Associates Max Tang (Corporate) and Joe Saggese (IP/Tech); and Managing Associate Vinay Rawal (Corporate Finance).

James Dawson, Partner, Corporate Finance, said: "This deal is a major boost to the UK’s ambitions in immersive computing and next-generation hardware, scaling Plessey’s world-leading microLED and optical computing capabilities from R&D to high-volume production. It underscores Addleshaw Goddard’s expertise in guiding technology clients through complex, strategically significant M&A, reinforcing our role as a trusted adviser to UK tech innovators."