Silex Systems Limited
(ASX:SLX) subsidiary Translucent Inc has signed a License and Assignment Agreement with IQE Plc.
The initial payout of US$1.5 million will provide an exclusive license of up to 30 months to complete produce commercialisation of Translucent’s ‘Rate Earth Oxide’ (cREOTM ) semiconductor technology.
IQE will then have the option of purchasing the Translucent technology for an additional US$5 million.
Translucent operations in Palo Alto, California will be closed as IQE will be taking over commercialisation activities.
