IQE Share News (IQE)

IQE Information

Share Price Information for IQE (IQE)

Share Price is delayed by 15 minutes

Get Live Data

50.80 -0.20 (-0.39%)

Bid:

49.95

Ask:

50.30

Spread: 0.35 (0.701%)

Market Cap: £670.89m

Last checked at -

Intraday IQE Share Chart

REMOVE ADS

IQE snaps up rival

Mon, 05th Oct 2009 07:21

Semiconductor wafers technology specialist IQE is to buy rival gallium nitride materials supplier NanoGan for up to £3.6m, dependent on performance.The initial consideration of £0.4m will be settled by the issue of new shares and cash. IQE has the option to settle the future milestone payments in either shares or cash."The acquisition of NanoGaN represents a major milestone in our technology roadmap, and reinforces our strategy of being a powerful IP based technology leader in the supply of advanced semiconductor materials to a multitude of high growth markets," Dr Drew Nelson, IQE chief executive officer said.IQE is to raise £0.56m through a placing of 4m shares at 14p per share to help fund the deal.