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(Sharecast News) - IQE announced an extension to its multi-year strategic supply agreement with Lumentum Holdings on Monday, deepening a longstanding partnership focused on advanced sensing technologies.
The AIM-traded firm said the renewed deal covered the continued supply of IQE's compound semiconductor epiwafers, which underpin Lumentum's portfolio of photonic products used in consumer electronics, automotive LiDAR and in-cabin sensing systems.
It said the collaboration centred on IQE's expertise in vertical-cavity surface-emitting lasers, or VCSELs, which supported the development and mass production of 3D sensing components across Lumentum's platforms.
The companies had worked together for several years as demand grew for semiconductor technologies enabling next-generation sensing capabilities in consumer and automotive markets.
"I am very pleased to continue our highly successful relationship with Lumentum through this multi-year supply agreement extension," said IQE chief executive Jutta Meier.
"Together we have achieved significant innovation in sensing technologies, from development through to mass production.
"We are excited to build on our success moving forward, as we expand advanced sensing into a new generation of consumer and automotive products."
IQE said the extension reinforced its position in compound semiconductor materials for photonics applications and strengthened a key commercial relationship with a major customer as sensing technologies broaden into new end-markets.
At 0918 GMT, shares in IQE were up 4.78% at 5.26p.
Reporting by Josh White for Sharecast.com.
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