Westborough Company Gets Final Payment in $70 Million Deal

WESTBOROUGH, MA -- The Westborough-based Kopin Corporation last week announced that it received $15 million from IQE PLC, 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 a total consideration of approximately $70 million in cash, with the final payment received from the UK-based designer and supplier of advanced semiconductor wafers, the company said in a release.

Kopin used the sale proceeds to invest in the development of wearables components. At the recent CES show Kopin demonstrated its smart eyewear for elite cyclists called Solos; launched Whisper Voice Chip, its voice extraction technology; announced the world’s smallest glass display called the Pupil; and was featured in 13 different companies that demonstrated products at the show, said the announcement.