MEMSCAP announced this week it has fully executed its FABLITE Program through the sale of its MEMS fab in North Carolina, as well as the conclusion of a strategic supply agreement for its optical communications products. MEMSCAP entered into a definitive asset purchase agreement with Science Corporation, a California-based company, which develops advanced medical technologies. The sale and transfer of certain assets of MEMSCAP's US subsidiary includes the entire team in North Carolina, the North Carolina plant lease as well as all plant's tools and equipment and associated technology, and the foundry business customers. The purchase price to acquire the above assets totals $3.0 million.
