IQE Acquires cREO Technology From Translucent For USD5 Million (ALLISS)

16th Mar 2018 10:32

LONDON (Alliance News) - Wafer products and services supplier IQE PLC said on Friday it has exercised its exclusive option to acquire the cREO technology and patent portfolio for USD5.0 million, to be paid either in cash or shares.

IQE first said in 2015 it had signed an agreement with Translucent Inc, a subsidiary of technology company Silex Systems Ltd, to acquire the exclusive licence of Translucent's rare earth oxide semiconductor technology.

The agreement gave IQE an exclusive 30-month licence for the commercialisation of the technology and an option to acquire cREO.

"We are very pleased to announce the exercise of this exclusive option to acquire the original portfolio of cREO patents from Silex Systems. This type of materials innovation is at the core of IQEs disruptive semiconductor materials solution strategy, as we move from a bespoke, customer specification led business model to a more broad based materials innovation led model which offers customers new opportunities to develop disruptive end market products," said President and Chief Executive Officer Drew Nelson.

Shares in IQE were up 0.7% at 144.26 pence on Friday.

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