IQE PLC Iqe Plc: Iqe Exercises Exclusive Option To Acquire Creo(TM) Technology And Ip Portfolio

 
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                [phone] 
Canaccord Genuity 
 Simon Bridges 
 Henry Fitzgerald-O'Connor 
 Richard Andrews             + 44 (0) 20 7523 8000 
Peel Hunt 
 Edward Knight 
 Nick Prowting                [phone] 
 
 
 
   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)

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