Kopin Corporation (NASDAQ:KOPN) today announced that the Company
has received $15 million from IQE PLC, a leading UK-based designer and
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 a total consideration of approximately $70 million in cash,
with the final payment received today.
Kopin has utilized the proceeds from the sale to invest in the
development of wearables components, and today is a leader in providing
components to the leading enterprise and consumer developers of head
mounted displays, along with the military. 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.
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.
About Kopin
Kopin Corporation is a leading developer and provider of innovative
wearable technologies and solutions for integration into head-worn
computing and display systems to military, industrial and consumer
customers. Kopin’s technology portfolio includes ultra-small displays,
optics, speech enhancement technology, system and hands-free control
software, low-power ASICs, and ergonomically designed smart headset
reference systems. Kopin’s proprietary components and technology are
protected by more than 300 global patents and patents pending. For more
information, please visit Kopin’s website at www.kopin.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160119005159/en/
Kopin Corporation
Richard Sneider, 508-824-6696
Treasurer and
Chief Financial Officer
Richard_Sneider@kopin.com
or
Market
Street Partners
Joann Horne,415-445-3233
JHorne@marketstreetpartners.com