TAUNTON, Mass., Oct. 31 -- Kopin Corp. has acquired a privately held, Columbia Md.-based provider of advanced semiconductor materials and devices. Kopin acquired the company, Super Epitaxial Products Inc., for about 1.7 million shares of Kopin stock, worth about $25 million, in exchange for all outstanding shares of Super Epitaxial Products. Kopin will take a one-time charge of no more than $0.07 per share as a result of purchased in-process research and development and other expenses during this year's fourth quarter, the company said.
We are extremely excited about acquiring a company that is highly synergistic with our own business, said John C.C. Fan, president and CEO of Kopin. We believe that Kopin's transistor wafer technology and manufacturing know-how, combined with SEP's demonstrated capabilities in optoelectronic materials and devices, will position Kopin as a major provider of components for existing and emerging optical communications. SEP's outstanding scientists and engineers will help accelerate commercialization of our optical communications products.
Kopin manufactures gallium arsenide transistor products and miniature flat panel displays for communications and digital imaging applications.