Monday, May 24, 2010

Solaicx Acquired By MEMC

Santa Clara-based Solaicx, a manufacturer of silicon wafers for the photovoltaic industry, has been acquired by MEMC Electronic Materials. The deal was worth $66M in cash, plus up to $10M in investments, as well as earnout equivalent to $27.5M, MEMC said today. Solaicx develops crystal growth manufacturing technology which provides high volume crystal growth for monocrystalline silicon wafers, used in solar cell manufacturing. The firm was venture backed by D.E. Shaw Group, Mitsui Ventures, Applied Ventures, Firsthand Capital Management, Big Sky Ventures, and Greenhouse Capital Partners.