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Electronics Production | January 10, 2007

IQE completes acquisition of MBE

IQE plc, a UK-based outsource supplier of advanced wafers and outsource wafer services to the global semiconductor industry, has completed the acquisition of MBE Technology Pte Ltd, a Singapore based manufacturer of compound epitaxial ('epi') wafers for a total cash consideration of S$23 million.
The acquisition provides IQE with a very presence in Asia including excellent links into Japan, Taiwan, China and Korea. IQE intends to use the new base in Asia to aggressively sell into the Pacific Rim wireless industry. In 2006, MBE is expected to generate revenues in the order of US$15 million and an EBITDA of over US$ 3.2 million. MBE's growth and premier position are sustained by its strong customer base across the Far East including a strategic supplier agreement with a substantial Japanese electronics manufacturer.
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