EMCORE Announces Sale of Chips Business and Wafer Fabrication Operations for $2.92M and Certain Assumed Liabilities

May 2, 2024

https://www.globenewswire.com/news-release/2024/05/02/2874647/337/en/EMCORE-Announces-Sale-of-Chips-Business-and-Wafer-Fabrication-Operations-for-2-92M-and-Certain-Assumed-Liabilities.html

BUDD LAKE, NJ, May 02, 2024 (GLOBE NEWSWIRE) — EMCORE Corporation (Nasdaq:EMKR), the world’s largest independent provider of inertial navigation solutions to the aerospace and defense industry, announced today the consummation effective April 30, 2024 of a transaction for the sale of its Chips business and indium phosphide (InP) wafer fabrication operations for a total purchase price of $2.92 million, together with the assumption by the buyer, HieFo Corporation, of certain assumed liabilities, of which $1 million was previously received from HieFo, and $1.92 million was paid by HieFo to EMCORE at the closing of the transaction.

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