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LEDs ♦ news digest


significant shareholdings in a portfolio of University of Sheffield spin-out companies including Simcyp, Magnomatics, Diurnal and Phase Focus.


In January 2007, Fusion completed a ten year exclusive agreement with Cardiff University, also giving it the right to commercialise (through the creation of spin-out companies) Cardiff University’s research-generated IP. Fusion has significant shareholdings in a portfolio of Cardiff University spin-out companies including Mesuro, Asalus and MedaPhor.


On 2 December 2009 Fusion announced that it had raised approximately £3.2 million through a fund raising and that as a result, IP Group held approximately 19.8% of Fusion. Fusion has also entered into a Co-Investment Agreement with IP Group, in which IP Group has the right to acquire for cash, 20% of Fusion’s equity in any new portfolio company. As Fusion normally owns 60% of any new portfolio company at start-up, IP Group’s shareholding would normally equate to a 12% stake in the new portfolio company.


Fusion IP also has a Memorandum of Understanding with Finance Wales, the provider of commercial funding to Wales- based SMEs, which outlines a strategy of co- investment in opportunities arising from the Cardiff Agreement.


On 8 November 2011 Fusion announced that it had raised approximately £5 million through a fundraising with existing and new institutional investors. As a result of this IP Group holds an interest in approximately 26% of Fusion.


Soitec completes acquisition of Altatech


The acquisition will provide Soitec access to specific equipment necessary to deliver its LED strategy. It will also support manufacturing ramp up of its new Plug&Sun stand-alone mini solar


January / February 2012 www.compoundsemiconductor.net 59 tracker system


Soitec, a manufacturer of revolutionary semiconductor materials for electronic and energy industries, has successfully completed its acquisition of all of the outstanding shares composing the capital of Altatech Semiconductor S.A.


Altatech Semiconductor was a privately held French company located in Montbonnot- Saint-Martin near Grenoble, France. Altatech, created in 2004 by a group of semiconductor professionals, currently develops highly efficient, cost-effective technologies and equipments for new applications in emerging markets.


The final purchase price was set to € 15 million. The acquisition was financed partly in cash and partly using Soitec stock, purchased by BNP Paribas Exane on the market. This was completed under the share buy-back program approved by the shareholders during the combined ordinary and extraordinary meetings held on June 24, 2011. Selling shareholders are bound by certain holding requirements for the portion of the purchase price to be paid in Soitec stock.


Soitec’s products include substrates for microelectronics (most notably SOI : Silicon- on-Insulator) and concentrating photovoltaic systems (CPV). The company’s core technologies are Smart Cut, Smart Stacking and Concentrix, which is based on III-V multi-junction cell technology. Applications include consumer and mobile electronics, microelectronics-driven IT, telecommunications, automotive electronics, lighting products and solar power plants for large-scale utilities.


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