16 January 2013

Kopin completes sale of III-V assets to IQE

Kopin Corp of Taunton, MA, USA has announced the completion of the sale of its III-V assets to epiwafer foundry and substrate maker IQE plc of Cardiff, Wales, UK (announced on 10 January). Kopin received $55m, plus $5m was placed in escrow for working capital adjustments. The firm will receive also $15m on or about 16 January 2016.

“Closing this transaction is a transformation step for Kopin as we focus on maximizing the potential of our Golden-i technology,” says president & CEO Dr John C.C. Fan. “Over the past 12 months, we have made strategic investments in software companies such as Ask-Ziggy, Ikanos and, most recently, Aurisound to complement our internally developed Golden-i hardware reference designs. Through these investments, the goal for our Golden-i program is to develop a fully integrated reference system capable of providing an entirely new family of mobile devices,” he adds. “Our Golden-i business model is a licensing-based model driven by patenting the innovations and processes that emanate from these significant research and development initiatives.” 

See related items:

IQE to acquire Kopin’s III-V assets for $75m; share placing to raise £16.5m

Tags: Kopin IQE

Visit: www.kopin.com