9th Jul 2015 08:26
LONDON (Alliance News) - Semiconductor wafer products and services provider IQE PLC on Thursday said it has signed a joint venture deal with Cardiff University for the development and commercialisation of compound semiconductor technologies in Europe.
IQE will work with the university's Institute of Compound Semiconductors on developing the technology. IQE said the deal is a milestone in the push to establish a European compound semiconductor cluster in Wales.
The venture will be jointly-owned and controlled by IQE and the university and IQE will contribute equipment with a market value of GBP12 million to the project, to be matched by a GBP12 million contribution from the university.
Shares in IQE were up 3.2% to 22.185 pence in early trade Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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