Veeco completes acquisition of Ultratech for $862m
来源:solution    发布时间:2017-05-31 15:21:57    次浏览   大小:  16px  14px  12px
Veeco completes acquisition of Ultratech for $862m

Thin-film etch and deposition process equipment maker Veeco Instruments Inc of Plainview, NY, USA has completed its acquisition of Ultratech Inc of San Jose, CA, USA (which designs and makes lithography, laser-processing and inspection systems used to manufacture semiconductor devices and LEDs.
Ultratech provides lithography equipment for advanced packaging applications and for LEDs, and is a pioneer in laser spike anneal technology used for the production of microelectronic devices. In addition, it offers wafer inspection solutions leveraging its proprietary coherent gradient sensing (CGS) technology that address a wide variety of semiconductor applications.
The strategic transaction “establishes Veeco as a leading equipment supplier to the growing advanced packaging industry,” says Veeco’s chairman & CEO John R. Peeler. “This compelling combination increases our scale while bringing together complementary technologies and a strong talent pool,” he adds. “This is the ideal platform to accelerate growth, enhance profitability and deliver significant value for our customers and shareholders.
The transaction is expected to be immediately accretive on a non-GAAP basis. Veeco is targeting $15m in annualized run-rate synergies within 24 months after closing, to be achieved through increased efficiencies and leveraging the scale of the combined businesses.
Ultratech shareholders will receive $21.75 in cash and 0.2675 of a share of Veeco common stock for each Ultratech share outstanding. The total transaction is valued at about $862.3m, consisting of about 7.4 million shares of Veeco common stock and $628.4m in cash to former Ultratech shareholders and equity award holders. As a result of the acquisition, Ultratech Inc stock has ceased trading and is no longer listed on the NASDAQ Stock Market.