IQE shares soar on Kopin Corporation acquisition
UK semiconductor materials maker IQE gained on news it had agreed to buy a unit of Kopin Corporation to enhance its product line in wireless.
UK semiconductor materials maker IQE gained on news it had agreed to buy a unit of Kopin Corporation to enhance its product line in wireless.
Shares soared 19.66% to 35.00p after the company said it would acquire compound semiconductor epiwafer manufacturing business Kopin Wireless for $75m.
Kopin Wireless manufactures heterojunction bipolar transistor materials which are used in power amplifiers, a key wireless component in mobile devices.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
IQE expects earnings to increased on the back of the acquisition this year. In a trading update the company projected 2012 revenues of up to £88m with earnings before interest, tax, depreciation and amortisation up to £17m and net debt of approximately £15.5m.
Drew Nelson, Chief Executive Officer of IQE, said: "This acquisition is our third key transaction in the past 12 months. It significantly enhances our scale and provides us with a highly complementary product line in the wireless space.
"The transaction marks another major step forward in our risk mitigation strategy, whilst significantly boosting our wireless market share. At the same time, it delivers excellent opportunities for additional business growth, particularly in Taiwan and from there into the Asian semiconductor market."
RD
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Will “Liberation Day” strike again?
Donald Trump’s 90-day tariff pause comes to an end on 9 July. Can we expect further market turmoil?
-
Israel claims victory in the '12-day war' with Iran
Donald Trump may have announced a ceasefire in the 12-day war between Israel and Iran, but what comes next depends on what happens internally in Iran