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To: Amy J who wrote (180434)	3/17/2005 8:42:06 AM
From: Proud_Infidel	Respond to of 186894

Intel-backed plastic IC firm folds; assets up for sale Mark LaPedus EE Times (03/16/2005 9:39 PM EST) SAN JOSE, Calif. — FlexICs Inc., a pioneer in the plastic IC market that was funded by Intel Corp. and others, has folded and decided to put its assets up for auction, according to officials in charge of liquidating the high-profile firm. "The board (of FlexICs) decided to cease operations," said Joseph Musha'sha, president of F1 Management Group (Pleasanton, Calif.), a consulting firm that is working with FlexICs' creditors. On its Web site, F1 Management Group describes itself as "the best liquidators and business wind down advisors" in the industry. Founded in 2001, FlexICs (Milpitas, Calif.) was attempting to develop semiconductors on plastic substrates for flat-panel display and related applications (see Sept. 26, 2001 story). The startup was also set up as a foundry for semiconductors on plastic. The aim is to sign up organic LED (OLED) and LCD manufacturers for what it expects to be a cheaper and more durable alternative to the glass currently used in most displays. FlexICs built a 1,700-square-meter pilot plant with a Class 100 cleanroom. Its technology was originally developed by Lawrence Livermore National Labs and subsequently licensed to FlexICs. The startup raised some $23 million from investors such as Intel Capital, Draper Fisher Jurvetson, Mobius Venture Capital and Palo Alto Investors. At one point, the company was headed by Magnus Ryde, formerly president of the U.S. arm for Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC). While its technology was promising, FlexICs has recently ceased operations for undisclosed reasons. "I am not at liberty to discuss the details." Musha'sha said. Some speculate that FlexICs may have run out of funding before it could develop its technology in the marketplace. Plastics-on-semiconductor technology is not a new concept, but it is difficult to manufacturer and commercialize, according to observers. This week, Cowan Alexander LLC and Asset Reliance International, a technology auction and valuation team, announced that they are heading a WebCast equipment auction for FlexICs. Highlights of the 500-lot auction include a Cascade Microtech probe system, CHA SSB-600 sputter systems, Karl Suss MA150 mask aligner, Sopra ES4-G ellipsometer, Tegal 901e etcher, Dektak 3ST profiler, Lamda Physik 400/4038 laser system, and a custom-designed cluster tool with a $2.4 million original acquisition cost. "This auction event represents a tremendous buying opportunity for companies both large and small looking for quality equipment at auction prices. All equipment will be sold regardless of price with no minimum bid and no reserve prices," said Don Cowan, president of Cowan Alexander (Woodland Hills, Calif.).