Date: Jan 16, 2013 Source: Company Data (
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TAUNTON, Mass.--(BUSINESS WIRE)-- Kopin® Corporation (NASDAQ: KOPN) today announced the completion of the sale of its III-V assets to IQE plc (LSE: IQE), a leading UK-based designer and supplier of advanced semiconductor wafers. Under the terms of the transaction, Kopin received $55 million and $5 million was placed in escrow for working capital adjustments. In addition, the Company will receive $15 million on or about January 16, 2016.
"Closing this transaction is a transformation step for Kopin as we focus on maximizing the potential of our Golden-i technology," said Dr. John C.C. Fan, Kopin's president and chief executive officer. "Over the past 12 months, we have made strategic investments in software companies such as Ask-Ziggy, Ikanos and, most recently, Aurisound to complement our internally developed Golden-i hardware reference designs. Through these investments, the goal for our Golden-i program is to develop a fully integrated reference system capable of providing an entirely new family of mobile devices. Our Golden-i business model is a licensing-based model driven by patenting the innovations and processes that emanate from these significant research and development initiatives."
About Kopin Corporation
Kopin Corporation is developing Golden-i®, a proprietary voice-activated, cloud computing, wireless, hands-free technology with microdisplay capabilities for use in headset computers. Kopin's proprietary technologies are protected by over 200 global patents and patents pending. For more information, please visit Kopin's website at www.kopin.com and www.mygoldeni.com.
Kopin, CyberDisplay, Golden-i and The NanoSemiconductor Company are trademarks of Kopin Corporation.
