Kopin Receives Final Payment for III-V Line
Kopin, a US developer of wearable technologies, has received $15 million from IQE, the UK-based supplier of advanced semiconductor wafers, as the final payment from the sale of its III-V product line.
Under the terms of the sale, which was completed in January, 2013, Kopin sold its advanced integrated circuit business for approximately $70 million in cash, with the final payment received today.
Kopin has used the proceeds from the sale to invest in the development of wearables components, and today provides components to the leading enterprise and consumer developers of head mounted displays, along with the military.
At the recent CES show Kopin demonstrated smart eyewear for cyclists called Solos; launched Whisper Voice Chip, its voice extraction technology; announced what it claims is the world's smallest glass display called the Pupil; and was featured in 13 different companies that demonstrated products at the Show.
As of September 26, 2015, and before inclusion of the $15 million payment, Kopin had approximately $87 million of cash and marketable securities, and no debt.
Kopin's technology portfolio includes displays, optics, speech enhancement technology, system and hands-free control software, low-power ASICs, and smart headset reference systems.