Business news: TIR Systems, IQE, Emcore, Daktronics
TIR Systems has won a significant solid-state lighting order, Emcore is to sell its Electronic Materials division to IQE, and Daktronics has partnered to form a digital display network.
TIR Systems has secured an order in excess of CAN $2.7 million (US$ 2.4 million) from Dubai Festival City to supply TIR’s Destiny Series and ColorTrace products. TIR expects the order to be completed before the end of the calendar year.
Dubai Festival City is the Middle East’s largest, privately funded mixed-use real estate development project and TIR’s products have been chosen to create unique visual effects for the retail shopping experience area.
Lisa Passamonte Green, Visual Terrain’s VP and Principal in Charge of the project explained, "TIR’s products are being used both in interior and exterior applications to provide a variety of visual effects that enhance the overall shopping experience. As a result, it was critical that the selected product could handle the extreme heat in Dubai while also meeting the creative vision of the project."
Emcore sells Electronic Materials division to IQE
Emcore Corporation, which provides compound semiconductor-based components and subsystems for various communication and solar power markets, has agreed to sell its Electronic Materials & Device division (EMD) to IQE plc, an epitaxial wafer supplier headquartered in Cardiff, UK.
The purchase will have a total value of $16 million and includes inventory, fixed assets, and intellectual property. EMD utilizes MOCVD (metal organic chemical vapor deposition) technology to produce both GaAs- and GaN-based transistor wafers for use in power amplifiers and switches in wireless handsets and wireless LAN applications.
IQE supplies electronic and optoelectronic materials produced using MOCVD and MBE (molecular beam epitaxy) equipment. Epitaxial wafers are supplied to device makers including LED manufacturers, although at present IQE does not produce GaN-based material for LED applications. The deal with Emcore, which has extensive GaN experience, may speed IQE's entry into this market.
Emcore is a partner with General Electric in the GELcore joint venture that supplies LED-based products for numerous applications including signage and illumination.
Daktronics and AMN expand digital display network
LED display manufacturer Daktronics has announced a partnership with Arena Media Networks (AMN) that will provide targeted, digital advertising and sponsorship opportunities at sports and entertainment facilities around the country. The deal includes an equity investment of $6 million in AMN by Daktronics.
Arena Media Networks owns and operates the nation's largest network of digital flat-panel displays in stadiums and arenas across the US. Advertisers purchase time on the display network to present product and service information that is interspersed with real-time programming including live scores, statistics, news, and weather information.
"Joining forces with Daktronics gives Arena Media Networks the ability to further expand our national digital network of displays," said Art Williams, co-founder and CEO of AMN. "With the support of the world's leading display designer and manufacturer, AMN will be able to build a more advanced network that provides greater impact for our viewers and advertisers and expand our reach into related markets."
"National advertisers continue to look for new ways to reach their target audiences without sacrificing the impact of sound and motion that television provides," Williams added. "The sports market in particular is an extremely effective way to reach millions of highly sought after consumers throughout the country. We believe our partnership with Daktronics will allow us to further expand our network for our customers and partners."