Private equity buys Canadian MEMS foundry

January 29, 2015 //By Peter Clarke
Private equity buys Canadian MEMS foundry
Private equity investor FTC Technologies Inc., based in western Canada, has purchased 98 percent of the shares in MEMS foundry Micralyne Inc. (Edmonton, Alberta).

Micralyne, founded in 1982, has performed process development and manufacturing across a variety of senor and actuator types for use in all major electronics sectors and includes optical and microfluidic MEMS capabilities.

"This acquisition and our commitment to on-going investment in Micralyne will leverage the company’s leadership, engineering expertise and manufacturing capacity for the long-term benefit of our customers," said FTC Technologies chairman, Ric Forest, in a statement issued by Micralyne. Forest also serves on the board of directors of Micralyne.

Micralyne said it plans to extend its design, package and testing capabilities to create more flexible, vertically integrated MEMS and that it will make use of its silicon-on-insulator wafer processing and wafer-level packaging capabilities to increase production of pressure sensors, optical switching devices, and accelerometers.

Micralyne CEO, Mike Ciprick said: "Transitioning from a broad and diverse shareholder base to a focused, agile investor team brings us the ownership structure and resources to grow assertively and expand our market share in industrial MEMS sectors."

Related links and articles:

www.micralyne.com

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