e2v technologies announces proposed acquisition of QP Semiconductor

Sept. 1, 2008
September 2, 2008--e2v technologies (Chelmsford, England), developer and manufacturer of imaging components and sub-systems, announced that its subsidiary, e2v Holdings, has conditionally agreed to buy QP Semiconductor (Santa Clara, CA), for an initial cash consideration of $65 million dollars.

September 2, 2008--e2v technologies (Chelmsford, England), developer and manufacturer of imaging components and sub-systems, announced that its subsidiary, e2v Holdings, has conditionally agreed to buy QP Semiconductor (Santa Clara, CA), for an initial cash consideration of $65 million dollars.

In addition, deferred consideration of up to $15 million dollars may be payable to QP shareholders, subject to future operating profit performance targets being achieved by QP. e2v may satisfy up to $5 million of the deferred consideration through the issue of new ordinary shares to the QP shareholders. All other deferred consideration is to be issued in cash. The overall cash consideration will be funded through existing bank facilities.

QP is a well established and leading U.S.-based designer and supplier of specialty semiconductor components used in military and aerospace applications. Its extensive product range addresses a niche sector within this market, designed to deliver high performance in extreme conditions. QP achieved compound annual sales growth of 27% from 2005-2007, with 2007 operating margins of 35%.

Keith Attwood, chief executive of e2v, said, "We are delighted to announce the proposed acquisition of QP, which represents a significant opportunity for the Group and is an important step in establishing an operational footprint in the USA. It will increase our market share in the aerospace and defence sector and expand our relationship with contractors to the U.S. Department of Defense. This acquisition will significantly enhance our presence in the high-reliability specialist semiconductor market and the board believes that the acquisition of QP will deliver earnings enhancement in the financial year ending March 2009 and material enhancement in the year ending March 2010."

For more information, visit www.e2vtechnologies.com.

Sponsored Recommendations

Request a quote: Micro 3D Printed Part or microArch micro-precision 3D printers

April 11, 2024
See the results for yourself! We'll print a benchmark part so that you can assess our quality. Just send us your file and we'll get to work.

Request a free Micro 3D Printed sample part

April 11, 2024
The best way to understand the part quality we can achieve is by seeing it first-hand. Request a free 3D printed high-precision sample part.

How to Tune Servo Systems: The Basics

April 10, 2024
Learn how to tune a servo system using frequency-based tools to meet system specifications by watching our webinar!

Precision Motion Control for Sample Manipulation in Ultra-High Resolution Tomography

April 10, 2024
Learn the critical items that designers and engineers must consider when attempting to achieve reliable ultra-high resolution tomography results here!

Voice your opinion!

To join the conversation, and become an exclusive member of Laser Focus World, create an account today!