Friday, July 2, 2010

Solaicx Acquisition Completes

The acquisition of Santa Clara-based Solaicx has completed, says acquiring firm MEMC Electronic Materials. The acquisition was worth $66M in cash, plus approximately $10M in cash equal to amounts recently invested in Solaicx by its existing shareholders. Solaicx was a manufacturer of silicon wafers for the photovoltaic industry, and was backed by D.E. Shaw Group, Mitsui Ventures, Applied Ventures, Firsthand Capital Management, Big Sky Ventures, and Greenhouse Capital Partners. MEMC said that Solaicx had approximately 80 employees. The acquisition was originally announced in May.