Jan 29 2010
SUSS MicroTec today announced the sale of its Test Systems Division, which is located in Sacka near Dresden, Germany, plus other related assets. The Company was sold to Cascade Microtech, Inc., a worldwide leader in the precise electrical measurement and test of integrated circuits.
The purchase price for the SUSS MicroTec Test Systems GmbH, which is subject to a post-closing purchase price adjustment, is cash and debt free and consists of a fixed amount and an amount placed in escrow. The fixed component amounts to EUR 4.5 million of which EUR 2.0 million was paid in cash and EUR 2.5 million was paid in shares of Cascade Microtech common stock. In addition, an amount of EUR 2.5 million has been placed in escrow and will be released to the seller upon meeting certain post-sale conditions.
SUSS MicroTec Test Systems is a leading global supplier of measurement and test systems for the semiconductor industry. It employs approximately 120 staff at its Sacka site and its international subsidiaries. In the 2008 fiscal year sales was EUR 25.0 million and EUR 10.6 million for the nine months ended September 30, 2009.
With the divestment of the SUSS MicroTec Test Systems GmbH and the recent acquisition of HamaTech APE, SUSS MicroTec will focus on its core competency of microstructuring for microelectronics applications.
SUSS MicroTec’s comprehensive product portfolio of exposure, cleaning, coating, developing and bonding equipment offers complete high performance solutions for advanced semiconductor packaging and 3D integration as well as the manufacturing of MEMS and LEDs.
Through the acquisition of SUSS MicroTec Test Systems GmbH, who held the second position in the market, Cascade Microtech will strenghten its market leadership position in the semiconductor test probe station market focusing the necessary resources towards developing leading-edge customer solutions to address accelerated growth markets.
“This is a key strategic move for Cascade Microtech which strengthens our product portfolio and leverages our combined resources and competencies,” said F. Paul Carlson, Chairman and CEO, Cascade Microtech, Inc. “We now have the critical mass to focus on the technical challenges our customers have in developing semiconductor processes and designing devices into the next decade. This acquisition enables us to aggressively address emerging applications such as 3D TSV, LED, and MEMS that are on an accelerated growth curve.”
“Divesting the SUSS MicroTec Test Systems GmbH allows us to focus on manufacturing solutions for our high growth core markets of advanced packaging, 3D integration, LED and MEMS’ said Frank P. Averdung, President and CEO of SUSS MicroTec. “Having a broad product range for 3D integration, we anticipate future collaboration with Cascade Microtech in order to address the complex issues in developing and testing 3D through silicon vias (TSVs).”
Source: http://www.suss.com/index.php