Westborough company finalizes $70M sale
Kopin Corp.
Kopin's smart eyewear for elite cyclists called Solos are among the products that were produced using the cash from selling off the company's advanced integrated circuits product line.
Kopin Corp. has received a final payment of $15 million, completing a $70 million deal with IQE PLC to sell Kopin's III-V Product line, the Westborough-based company announced Tuesday.
This marks the completion of the cash sale that went through in 2013. The products are part of advanced integrated circuits that are used in smartphones and other mobile communication devices, according to Kopin.
Kopin utilized proceeds from the sale to invest in the development of wearables components. The company provides components to the leading enterprise and consumer developers of head mounted displays, along with the military. At the recent Consumer Electronics Show in Las Vegas, Kopin demonstrated its smart eyewear for elite cyclists called Solos, launched its voice extraction technology called Whisper Voice Chip, and announced the world’s smallest glass display called the Pupil. Kopin technologies were featured in products from 13 other companies at the show.
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