Cardiff-based IQE plc announce acquisition of CSDC

International | Manufacturing | Mergers & Acquisitions | Wales
Singapore

IQE plc a Cardiff-based supplier of advanced wafer products and material solutions to the semiconductor industry, has announced the acquisition of third-party shareholdings in its CSDC joint venture in Singapore taking its ownership to 100%.

CSDC was formed in March 2015 as a joint venture between IQE’s Singaporean subsidiary MBE Technology Pte Limited (51%), WIN Semiconductors Corp (25%), Nanyang Technological University (18%) and individuals of the NanYang University (6%). It was established as a vehicle for the development and commercialisation of compound semiconductor technologies for academic and industrial customers based on Molecular Beam Epitaxy (MBE) technologies in Asia.

Dr Drew Nelson, Chief Executive Officer of IQE, said: “In the current geopolitical context, Singapore represents a strategically significant site for IQE. The capabilities of the CSDC team and skills availability in that location, coupled with proximity to Asian chip customers and OEMs, provide a strong opportunity to contribute to IQE’s global growth opportunities. With 100% control, IQE will be best positioned to address the current financial position and secure the strategic direction of the operation.”

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