As stated, I was only speculating. The thought bubble was based...

As stated, I was only speculating. The thought bubble was based upon:

BLG have done work previously with cREO via Silex/Translucent. I assume that was providing foundry services for how to lay (quality) GaN on cREO. IQE would be aware of this work through the cREO IP acquisition.

The announcement states BLG has provided foundry services to this European customer since Jan 22. The IP relates to working with the customer's specialty wafers (perhaps to do GaN on cREO as per the pics). I'm not sure if IQE is classified as a European customer given Brexit.

An IQE epitaxy expert appears in a BLG educational webinar. Many of the other experts have had some working exposure to BLG.

Jim refers to the decade of GaN MOCVD experience that enable BLG to develop IP which is now valuable to this customer. I assume the IP has been sold because it is only of value for use with the customer's specialty wafers and they want to continue to use BLG for foundry services for scale up.

OR - it could be anything else!!! Just trying to fill the space between now and next week.