IQE signs multi-year supply deal with Lumentum
By Josh White
Date: Wednesday 22 Jun 2022
(Sharecast News) - Semiconductor wafer and advanced materials supplier IQE announced the signing of a multi-year deal with Lumentum on Wednesday.
The AIM-traded firm said the agreement was for the supply of epiwafers supporting 3D sensing, lidar for automotive, and optical networking applications.
It said the Nasdaq-listed photonics specialist Lumentum has been a long-term partner of IQE.
Effective immediately, the multi-year agreement was focussed on high volume production of epiwafers, which would be used across Lumentum's portfolio of laser products - in particular to enable lidar for autonomous vehicles, where IQE would be the "epitaxy partner of choice" for the technology.
The partnership between IQE and Lumentum would also enable leadership across a "wider range" of technologies such as biometric security, data communications, and extended reality, the board claimed.
There was also further provision for multi-year joint research and development initiatives.
"Our partnership with Lumentum is in alignment with our strategy to strengthen our customer relationships and to enter into long-term agreements securing wafer supply," said chief executive officer Americo Lemos.
"Lumentum and IQE are industry leaders in the 3D Sensing space, and this partnership is underpinned by IQE's unrivalled technology portfolio.
"We look forward to our continued collaboration and expansion of our business relationship into new market segments."
At 0902 BST, shares in IQE were down 0.94% at 34.28p.
Reporting by Josh White at Sharecast.com.
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