FREE subscription
Subscribe for free to receive each issue of Semiconductor Today magazine and weekly news brief.




8 October 2009


IQE completes NanoGaN acquisition

Epiwafer foundry and substrate maker IQE plc of Cardiff, Wales, UK has completed the acquisition of UK based NanoGaN Limited for an initial consideration of £0.4m, which has been settled by the issue of new shares and cash as announced by IQE on 5 October 2009.

The completion follows the admission to trading on AIM of 5,819,134 New Ordinary Shares (being the Placing Shares and the Consideration Shares) today. The New Ordinary Shares rank pari-passu with the existing issued Ordinary Shares.

A further consideration of up to £3.2m in shares or cash will be settled on reaching milestones relating to the commercialisation of NanoGaN’s intellectual property.

“This acquisition of NanoGaN represents a major milestone in our technology roadmap, and enables the Group to accelerate its entry into the emerging high growth and large volume markets for blue and green semiconductor lasers as well as the key enabling materials for low energy LED lighting,” said Dr Drew Nelson, IQE’s CEO.

See related items:

IQE to buy GaN substrate firm NanoGaN for £3.6m

Orders return to pre-recession levels at IQE

Search: IQE Epiwafers GaN Free-standing GaN substrates



Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player