IQE PLC is acquiring the stakes held by its partners in its loss-making Singaporean joint venture CSDC Pte. Ltd. for a nominal fee.
The British chipmaker, through its unit MBE Technology Pte. Ltd., owns 51% of CSDC. It will buy out the shareholdings of Taiwan's WIN Semiconductors Corp., Nanyang Technological University and individuals connected to NanYang University, which own stakes of 25%, 18% and 6%, respectively.
The takeover will allow IQE to help spark a turnaround for CSDC by restructuring the business and targeting sales opportunities across Asia.
Following the deal, Drew Nelson will remain a director of CSDC, with MBE Technology General Manager LG Yeap also becoming a director.
CSDC develops and markets compound semiconductor technologies for academic and industrial clients.
