IQE acquires wafer firm MBE

According to ElectronicsWeekly IQE will pay £7.5m for the company. IQE became the largest outsource supplier of epitaxial wafers in the world earlier this year when it acquired Emcore's electronic materials division (EMD). IQE will pay an initial £3.8m in cash and another £3.8m in three instalments in January 2008, June 2008 and January 2009. MBE will rack up revenues of $15m this year and earnings before interest, tax, depreciation and amortisation (EBITDA) of $3.2m. “IQE intends to use the new base in Asia to aggressively sell into the Pacific Rim wireless industry," said IQE. The firm already has facilities in the US for wireless products and in the UK for the production of wafers for RF components.