October 10, 2019 / 6:38 AM / 2 months ago

UK's IQE to acquire Singaporean JV in strategic shift to Asia

Oct 10 (Reuters) - Cardiff-based IQE Plc said on Thursday it would take complete ownership of its loss-making joint venture in Singapore to capitalise on supply chains in the Asian country and China’s 5G market.

IQE makes semiconductor wafers for chips used in Apple products among others.

“In the current geopolitical context, Singapore represents a strategically significant site for IQE,” Chief Executive Officer Drew Nelson said.

The joint venture, CSDC Private Ltd, was formed in 2015 by its Singaporean unit MBE Technology with WIN Semiconductors and Nanyang Technological University to develop and commercialise compound semiconductor technologies.

Reporting by Yadarisa Shabong in Bengaluru, Editing by Sherry Jacob-Phillips

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