Exciting times ahead for one of Wales’ top tech companies! There’s news on the horizon for IQE, a Cardiff-based powerhouse in the world of advanced materials and semiconductors. They’re considering a big move: a full-scale sale of the company. This decision follows an in-depth strategic review, originally aimed at selling off their Taiwan operations.
The reason? IQE has been grappling with a challenging market environment, especially in the wireless segment, due to sluggish mobile handset sales. Additionally, delayed funding in the US military and defence sectors has pushed some orders into next year.
Despite these hurdles, IQE remains optimistic. The board believes there’s a golden opportunity due to their strong position in the semiconductor market and global customer base. If the sale of their Taiwan business goes through, IQE plans to pay off existing debts and invest further in their core operations.
Jutta Meier, IQE’s CEO, is confident in unlocking value for stakeholders, saying, “While uncertainties remain, we’re making significant progress.” Meanwhile, the company’s projected revenue for 2025 is between £90m to £100m, though their current share price has dipped below 8p, with some broker adjustments.
Stay tuned for what could be a pivotal chapter for IQE and the wider tech community in South Wales, which supports thousands of high-tech jobs. They’re set to announce their interim results on September 23rd, so watch this space! 📈💼✨