11 Jan 2013
IQE buys Kopin for $75m
IQE is to buy the compound semiconductor epiwafer manufacturing business, Kopin Wireless, for $75 million.
Drew Nelson, CEO of IQE, said: “This acquisition is our third key transaction in the past 12 months... and marks another major step forward in our risk mitigation strategy, whilst significantly boosting our wireless market share.
Kopin Wireless is a global manufacturer of heterojunction bipolar transistor materials which are used in power amplifiers and are produced using Metal Organic Chemical Vapour Deposition epitaxial wafer technology.
According to IQE, the acquisition significantly extends its market share and leadership in wireless industry supply and will deliver a market leading position in MOCVD HBT, as well as providing access to the growing Asian semiconductor market.
The move will also see Skyworks, which has a long standing supply agreement with Kopin Wireless, become a major customer.
"The transaction also delivers excellent opportunities for additional business growth, particularly in Taiwan and from there into the Asian semiconductor market," added Nelson. “This transaction will be a key driver of significant earnings and cash generation and also brings substantial financial and scale benefits. This will enable the Group to make significant cost savings from FY14 onwards and further underpins our leading position in the supply of wafers to the global compound semiconductor industry.”
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