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January 10, 2013
07:57 EDTKOPNKopin to sell III-V assets to IQE for $75M
Kopin has entered into an agreement to sell its III-V assets to IQE plc, a UK-based designer and supplier of advanced semiconductor wafers. The all-cash, $75M transaction will enable Kopin to focus exclusively on continued commercial development of Golden-i, the company’s mobile communications technology platform, as well as on its microdisplay products. The closing of the transaction is expected to occur next week. The company’s III-V revenues through the first nine months of 2012 were approximately $44M. Kopin will receive an up-front payment of $60M, and will receive the remaining $15M in January 2016 on the three-year anniversary of the transaction.
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