IQE PLC Iqe Plc: Iqe Exercises Exclusive Option To Acquire Creo(TM) Technology And Ip Portfolio
16 March 2018 - 9:00PM
UK Regulatory
TIDMIQE
Cardiff, UK. 16 March 2018: IQE plc (AIM: IQE, "IQE" or the "Company"),
the leading global supplier of advanced wafer products and wafer
services to the semiconductor industry, confirms that it has exercised
its exclusive option to acquire and own the cREO(TM) technology and IP
portfolio. IQE will pay a consideration of USD 5 million, expected to be
paid from either IQE's existing cash resources or from new ordinary
shares of 1 pence each in IQE being issued to the vendor, within 6
months following the exercise of the option.
IQE announced on 15 September 2015 that it had signed an agreement with
Silex Systems Limited's subsidiary, Translucent Inc. ("Translucent"),
for the exclusive licence of Translucent's unique and innovative 'Rare
Earth Oxide' (cREO(TM)) semiconductor technology. The Agreement provided
IQE with an exclusive 30-month licence for the commercialisation of the
Translucent cREO(TM) technology and an exclusive option (exercisable
solely at IQE's discretion) on the subsequent acquisition of the
technology. The Company has confirmed that it has exercised its option
to acquire the cREO(TM) technology and IP portfolio.
cREO(TM) technology offers a unique approach to the manufacture of a
wide range of disruptive Compound Semiconductor on Silicon products,
including gallium nitride (GaN) on silicon (Si) for the burgeoning Power
switching and RF technologies markets. The original cREO(TM) technology
is protected by a wide-ranging IP patent portfolio. This portfolio has
been further enhanced by IQE since September 2015, across a range of new
application areas including RF Filters and silicon photonic applications
and includes a number of new materials configurations.
Dr Drew Nelson, President and CEO of IQE plc, commented "We are very
pleased to announce the exercise of this exclusive option to acquire the
original portfolio of cREO(TM)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."
The announcement from 15 September 2015 can be found at
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/IQE/12500372.html
Contacts:
IQE plc
Drew Nelson
Phil Rasmussen
Chris Meadows +44 (0) 29 2083 9400
Canaccord Genuity
Simon Bridges
Henry Fitzgerald-O'Connor
Richard Andrews + 44 (0) 20 7523 8000
Peel Hunt
Edward Knight
Nick Prowting +44 (0) 20 7418 8900
Note to Editors
ABOUT IQE:
http://iqep.com
IQE is the leading global supplier of advanced semiconductor wafers with
products that cover a diverse range of applications, supported by an
innovative outsourced foundry services portfolio that allows the Group
to provide a 'one stop shop' for the wafer needs of the world's leading
semiconductor manufacturers.
IQE uses advanced crystal growth technology (epitaxy) to manufacture and
supply bespoke semiconductor wafers 'epi-wafers' to the major chip
manufacturing companies, who then use these wafers to make the chips
which form the key components of virtually all high technology systems.
IQE is unique in being able to supply wafers using all of the leading
crystal growth technology platforms.
IQE's products are found in many leading-edge consumer, communication,
computing and industrial applications, including a complete range of
wafer products for the wireless industry, such as smartphones and
wireless infrastructure, Wi-Fi, base stations, GPS, and satellite
communications; optical communications, optical storage, printing,
thermal imagers, leading-edge medical products, barcode, ultra high
brightness LEDs, a variety of advanced silicon based systems and high
efficiency concentrator photovoltaic (CPV) solar cells.
About Silex Systems Limited
www.silex.com.au
Silex Systems Limited (ASX: SLX) (OTCQX: SILXY) ("Silex") is an
Australian high-tech company focused on the delivery of its unique and
disruptive 'SILEX' laser enrichment technology as the next generation
technology for the global uranium enrichment industry. The SILEX
Technology has been exclusively licensed to GE-Hitachi Global laser
Enrichment, a business venture of GE (51%), Hitachi (25%) and Cameco
(24%) based in Wilmington, North Carolina.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: IQE plc via Globenewswire
http://www.iqep.com
(END) Dow Jones Newswires
March 16, 2018 06:00 ET (10:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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