Micro Technology, Inc. (IMT) announced today a majority equity financing led by Cerium Technology, an investment firm focused on innovation in the IoT market.
IMT is a pioneer in the design and manufacture of Micro Electro-Mechanical Systems (MEMS). MEMS technology leverages the precision and scale of semiconductor wafer manufacturing to make nano-scale structures on silicon or glass that dramatically improve the performance of devices that perform physical functions. The Company is the leading independent MEMS manufacturer in North America, partnering with innovative system-vendors and fabless device firms worldwide to create and sustain competitive advantage.
Proceeds from the financing will be used to increase R&D investments in the company’s standard process platforms, upgrade existing equipment, and to complete the installation of IMT’s new 8” (200mm) wafer fabrication line.
“We see strong growth in the demand for components serving optical, wireless, IoT, and medical sensing applications,” said Eldon Klaassen, Managing Director of Cerium Technology. “IMT has unique expertise and experience to become a leader in IoT technology.”
Craig Ensley, CEO of IMT, commented, “In the past five years we have matured this business from a development services firm into a volume manufacturer of innovative MEMS components. We are excited to partner with our new investors for IMT’s next chapter of growth.”
Source: https://www.imtmems.com/