Silex Systems (ASX:SLX, OTCQX:SILXY) subsidiary Translucent Inc has signed an agreement to license its Rare Earth Oxide’ (cREO) semiconductor technology to UK-based IQE plc (LON:IQE).
IQE will make an initial payment of US$1.5 million for a licence of up to 30 months to complete product commercialisation.
This will be followed by potential acquisition of the technology for an additional US$5 million.
Translucent will also receive a perpetual royalty on advanced semiconductor products sold by IQE using its technology.
IQE is a leading epiwafer supplier. Its products are used by major chip companies to produce high performance components for a wide range of high tech applications.
The company has cash of about $53 million.
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