Source/Type: CompoundSemi Online -- Compound Semiconductor Supply Chain News - Reported News

Arrowhead Sells Subsidiary Aonex to AmberWave Systems
Author: CompoundSemi News Staff

May 6, 2008... Arrowhead Research Corporation of Pasedena, California USA, announced the sale of its majority owned subsidiary, Aonex Technologies to AmberWave Systems. According to the agreement, Amberwave will pay Aonex shareholders up to $7.95 million in earn-out payments in addition to running royalty on sales of solar products incorporating Aonex’s technology. Arrowhead Research Corporation and Caltech Professor, Dr. Harry Atwater, launched Aonex Technologies in 2004. The company’s original focus was on commercializing the materials integration technology developed at Dr. Atwater’s lab for high efficiency solar cells. The company later expanded into the LED and laser markets. Aonex’s primary product is an innovative substrate that could enable the fabrication of higher efficiency compound semiconductor devices at lower cost and higher yields.

Aonex’s technology is expected to enhance the material technology product portfolio offered by AmberWave Systems. “AmberWave’s technical capabilities and business expertise make it the perfect company to bring Aonex’s products to market,” said Aonex CEO and co-founder Sean Olson. “There is a shared vision of using materials integration to develop better, more cost effective semiconductor devices.” Arrowhead Research Corporation News Release

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