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UnclaimedA British semiconductor materials company that manufactures advanced epitaxial wafers for optoelectronic, wireless, photonic, and other electronic applications.
Last updated August 26, 2026
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Overview
IQE plc is a British semiconductor materials company headquartered in Cardiff, Wales. It manufactures advanced epitaxial wafers and related compound-semiconductor materials that are incorporated into devices used in communications, wireless infrastructure, optical networking, sensing, displays, and other electronics applications. Rather than primarily selling finished consumer devices, IQE operates further back in the semiconductor supply chain: it supplies engineered wafer structures to device manufacturers and integrated-device companies that use them to produce lasers, photodetectors, radio-frequency components, power devices, sensors, and other semiconductor products. The business began in 1988 as Epitaxial Products International, founded by Drew Nelson and Michael Scott in Cardiff. Its early focus was epitaxial material for optoelectronic components used in fibre-optic communications. Using metal-organic chemical vapour deposition, or MOCVD, the company produced structures for semiconductor lasers, light-emitting diodes, and photodetectors operating at wavelengths associated with long-distance optical networks, particularly 1,300 and 1,550 nanometres. A defining turning point came in 1999, when Epitaxial Products International merged with Pennsylvania-based Quantum Epitaxial Designs, founded by Tom Hierl. The combined company adopted the IQE name. The transaction expanded IQE's technology base through the addition of molecular beam epitaxy, or MBE, and broadened its exposure to wireless telecommunications products. The combination positioned IQE as an independent outsourced manufacturer able to provide both optoelectronic and radio-frequency epitaxial wafers using two major epitaxial-growth technologies. IQE also expanded its material portfolio and geographic footprint through acquisitions and new facilities. In 2000 it established IQE Silicon in Cardiff to develop silicon and silicon-germanium epitaxy for enhanced silicon devices, microelectromechanical systems, and nanotechnology applications. That year it acquired Wafer Technology in Milton Keynes, adding substrate production in materials including gallium arsenide and indium phosphide, as well as capabilities involving gallium antimonide and indium antimonide for infrared applications. Later acquisitions and technology additions extended the group's MOCVD, MBE, gallium nitride, radio-frequency, and compound-semiconductor capabilities across the United Kingdom, the United States, Singapore, and Asia. The company has maintained manufacturing and development operations in Cardiff and Newport in Wales, Milton Keynes in England, several United States locations, and Taiwan. Its product range includes epitaxial wafers based on gallium arsenide, gallium nitride, indium phosphide, silicon, and related compound-semiconductor materials. The company has described larger-diameter gallium arsenide and gallium nitride wafers as suitable for applications including microLED displays, while indium phosphide wafers support electro-optic and photonic devices. IQE became publicly traded during its expansion phase. The merged company completed an initial public offering on EASDAQ in 1999 and obtained a London Stock Exchange listing in 2000. Its performance remains closely tied to semiconductor demand, customer production schedules, technology transitions, and the timing of qualification and volume shipments. In November 2018, IQE warned that product shipments would be materially lower than expected, with a corresponding effect on profitability; the announcement led to a sharp fall in its share price. In 2019, IQE acquired the remaining interest in CSDC, a compound-semiconductor joint venture in which it had previously held a majority stake. The company continues to operate as a specialist supplier of epitaxial wafers and semiconductor material platforms.
History
IQE was established in Cardiff in 1988 as Epitaxial Products International by Drew Nelson and Michael Scott. The original business concentrated on epitaxial wafers for optoelectronic devices, especially components used in fibre-optic communications. Its MOCVD-based production supported semiconductor lasers, LEDs, and photodetectors designed for optical-network wavelengths around 1,300 and 1,550 nanometres. In 1999, Epitaxial Products International merged with Quantum Epitaxial Designs, a Pennsylvania company founded by Tom Hierl. The combined organization became IQE. The merger brought MBE technology and additional wireless-communications expertise into the group, complementing its existing MOCVD capabilities. It also expanded the company's product base into RF epitaxy, including structures used in pHEMT and MESFET devices. IQE subsequently presented itself as an independent outsourced producer able to serve both optoelectronic and RF semiconductor markets. The merged company entered public markets through an EASDAQ IPO in 1999 and moved to a London Stock Exchange listing in 2000. During the same period, IQE created IQE Silicon in Cardiff. The subsidiary used chemical vapour deposition equipment to develop silicon and silicon-germanium epitaxial wafers for high-performance silicon processing, MEMS, and nanotechnology-related uses. IQE also acquired Wafer Technology in Milton Keynes in 2000. That acquisition added production of gallium arsenide and indium phosphide substrates and broadened the company's capabilities in antimonide materials for infrared applications. Expansion continued through a series of acquisitions and technology investments. In 2006, IQE purchased the Electronic Materials Division of Emcore, adding a second United States operation, additional MOCVD capacity, and RF products such as heterojunction bipolar transistor and BiFET-related materials. The group also acquired Singapore-based MBET Technologies, extending its MBE capabilities and multi-site manufacturing model. In 2009, the acquisition of NanoGaN, a University of Bath spin-out, added free-standing gallium nitride substrate technology. In 2012, IQE acquired Galaxy Compound Semiconductors in Spokane, Washington, and an MBE epitaxy manufacturing unit associated with RFMD in Greensboro, North Carolina. These transactions strengthened the company's United States manufacturing base and expanded its ability to serve RF and compound-semiconductor customers. IQE's later footprint included sites in Wales and Milton Keynes in the United Kingdom, several American locations, and Taiwan. The company has developed products based on gallium arsenide, gallium nitride, indium phosphide, silicon, and related semiconductor materials. Its wafers are used by downstream manufacturers in applications including optical communications, wireless infrastructure, RF electronics, sensors, displays, and other photonic or electronic systems. GaAs and GaN wafers have been produced in eight-inch formats for applications including microLED displays, while six-inch InP wafers have been directed toward electro-optic applications. IQE's results are sensitive to the semiconductor industry's cyclical demand, customer inventories, qualification schedules, and changes in product generations. On 12 November 2018, the company disclosed that shipments would be materially reduced and that profitability would also be materially affected. The announcement caused a substantial fall in its share price. In October 2019, IQE acquired the remaining interest in CSDC, a joint venture formed in 2015 in which IQE had previously held 51 percent through MBE Technologies. IQE remains an active specialist supplier of epitaxial wafers and advanced semiconductor materials.
- 2019
CSDC becomes wholly owned by IQE
[1]IQE acquires the remaining interest in CSDC after previously holding 51 percent through MBE Technologies.
- 2018
Shipment warning affects market valuation
[1]IQE reports that shipments will be materially reduced and that profitability will be materially affected, prompting a sharp share-price decline.
- 2012
United States compound-semiconductor expansion
[1]IQE acquires Galaxy Compound Semiconductors in Spokane and an MBE epitaxy unit associated with RFMD in Greensboro.
- 2009
NanoGaN is acquired
[1]IQE acquires NanoGaN, a University of Bath spin-out, adding free-standing gallium nitride substrate capability.
- 2006
Emcore electronic materials division is acquired
[1]IQE acquires Emcore's Electronic Materials Division, adding United States capacity, MOCVD capability, and complementary RF products.
- 2006
MBET Technologies is acquired
[1]The Singapore-based transaction expands IQE's MBE capabilities and supports a multi-site, multi-technology manufacturing model.
- 2000
London Stock Exchange listing
[1]IQE becomes listed on the London Stock Exchange.
- 2000
IQE Silicon is established
[1]The group forms IQE Silicon in Cardiff to develop silicon and silicon-germanium epitaxy for advanced silicon, MEMS, and nanotechnology applications.
- 2000
Wafer Technology is acquired
[1]The acquisition adds GaAs and InP substrate manufacturing and capabilities in antimonide materials for infrared applications.
- 1999
Merger creates IQE
[1]Epitaxial Products International merges with Quantum Epitaxial Designs, bringing MBE technology and wireless-semiconductor expertise into the combined group.
Products and positioning
IQE positions itself as an independent, global supplier of advanced epitaxial wafers and compound-semiconductor material platforms. Its differentiation is based on breadth of materials, epitaxial-growth technologies, manufacturing locations, and ability to support customers from development and qualification through volume production.
Compound-semiconductor wafers
Gallium arsenide epitaxial wafers
IQE produces GaAs epitaxial wafers and related structures for RF, wireless, optoelectronic, and display-related applications. The material platform is used in downstream devices such as high-frequency transistors, optical components, and selected microLED architectures.
Compound-semiconductor wafers
Gallium nitride epitaxial wafers
IQE's GaN capabilities include epitaxial structures and free-standing substrate technology. GaN materials support applications requiring high frequency, high power, or optoelectronic performance, including RF electronics, power-related devices, and display technologies.
Optoelectronic semiconductor wafers
Indium phosphide wafers
InP wafers are supplied for electro-optic and photonic applications, including components associated with optical communications. IQE has produced six-inch InP wafer formats for these device markets.
Silicon semiconductor materials · 2000
Silicon and silicon-germanium epitaxy
Through its silicon-focused operations, IQE develops silicon and silicon-germanium epitaxial wafers for enhanced silicon processing, microelectromechanical systems, and related advanced-material applications.
Radio-frequency semiconductor materials
RF epitaxial structures
IQE manufactures epitaxial structures for radio-frequency devices, including material platforms associated with pHEMT, MESFET, HBT, and BiFET technologies. These products serve wireless communications and other high-frequency electronics applications.
Brand decisions
2019
Acquisition of remaining CSDC interestM&ABackground
IQE had previously held a 51 percent interest in CSDC through MBE Technologies.
Action taken
In October 2019, IQE acquired the remaining interest in the joint venture.
Aftermath
CSDC became part of IQE's wholly owned operations.
2012
Expansion of United States manufacturingM&ABackground
IQE continued to build a geographically distributed platform for compound-semiconductor and RF wafer production.
Action taken
The company acquired Galaxy Compound Semiconductors in Spokane and an MBE epitaxy manufacturing unit associated with RFMD in Greensboro.
Aftermath
The acquisitions expanded IQE's United States presence and strengthened its MBE and RF manufacturing capabilities.
2000
Expansion into silicon-based epitaxyStrategyBackground
IQE aimed to extend its materials portfolio beyond compound-semiconductor and optoelectronic applications.
Action taken
The group established IQE Silicon in a facility adjacent to its Cardiff headquarters and European manufacturing base.
Aftermath
The subsidiary added silicon and silicon-germanium epitaxy for advanced silicon processing, MEMS, and nanotechnology applications.
1999
Merger with Quantum Epitaxial DesignsM&ABackground
Epitaxial Products International sought to broaden its technology and market coverage beyond its original optoelectronics focus.
Action taken
The Cardiff company merged with Pennsylvania-based Quantum Epitaxial Designs and adopted the IQE name.
Aftermath
The combination added MBE capability and wireless-semiconductor products, creating a broader independent epitaxial-wafer supplier.
Recent events
IQE appoints Americo Lemos as CEO[2]
IQE appointed Americo Lemos as chief executive officer, with his role due to start on 10 January 2022.
- Unconfirmed
IQE receives Raytheon 2019 Premier Supplier Excellence Award[3]
IQE received a 2019 Raytheon Supplier Excellence Award; Raytheon recognized IQE with a Premier Supplier Excellence Award.
IQE announces acquisition of full ownership of CSDC[4]
IQE announced that it would acquire third-party shareholdings in its CSDC joint venture in Singapore, giving IQE 100% ownership. The source describes the acquisition as announced, not completed.
- Unconfirmed
IQE reduces 2019 revenue guidance[5]
In a trading update, IQE reduced its 2019 revenue guidance from £140–160 million to £136–142 million. The article also reports that the company now expects a mid-single-digit adjusted operating loss.
Sources6 sources
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