Showing posts with label Ultratech. Show all posts
Showing posts with label Ultratech. Show all posts

Saturday, May 27, 2017

Veeco Completes Acquisition of Ultratech

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...


Source: Semiconductor Today
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Thursday, February 2, 2017

Veeco Enters into Agreement to Acquire Ultratech


Ultratech, Inc.
Feb 2, 2017

PLAINVIEW, NY and SAN JOSE, CA -- (Marketwired) -- 02/02/17 --
  • Creates a leading equipment supplier to the growing Advanced Packaging industry
  • Increases scale and revenue diversification to improve profitability through industry cycles
  • Transaction valued at approximately $815 million, expected to be immediately accretive to non-GAAP EPS
  • Conference Call at 5:00pm ET today
Veeco Instruments Inc. (NASDAQ: VECO), a global leader of advanced thin film etch and deposition process equipment, and Ultratech, Inc. (NASDAQ: UTEK), a leading supplier of lithography, laser-processing and inspection systems used to manufacture semiconductor devices and LEDs, today announced that they have signed a definitive agreement for Veeco Instruments Inc. ("Veeco") to acquire Ultratech, Inc. ("Ultratech"). The Boards of Directors of both Veeco and Ultratech have unanimously approved the transaction.

Ultratech shareholders will receive (i) $21.75 per share in cash and (ii) 0.2675 of a share of Veeco common stock for each Ultratech common share outstanding. Based on Veeco's closing stock price on February 1, 2017, the transaction consideration is valued at approximately $28.64 per Ultratech share. The implied total transaction value is approximately $815 million and the implied enterprise value is approximately $550 million, net of Ultratech's net cash balance as of December 31, 2016. Post transaction it is projected that Ultratech shareholders will own approximately 15 percent of the combined company.

Ultratech is a recognized leader of lithography products for Advanced Packaging applications and for LEDs and is a pioneer for laser spike anneal technology used for the production of semiconductor devices. In addition, the company offers wafer inspection solutions leveraging its proprietary coherent gradient sensing (CGS) technology which address a wide variety of semiconductor applications.

"The strategic combination will establish Veeco as a leading equipment supplier in the high growth Advanced Packaging industry. Ultratech's leadership in lithography together with Veeco's Precision Surface Processing (PSP) solutions form a strong technology portfolio to address the most critical Advanced Packaging applications. We believe our complementary end market exposure and customer relationships will create the ideal platform to accelerate growth," said John R. Peeler, Veeco's Chairman and Chief Executive Officer. "Ultratech is a great fit with our strategy to profitably grow our business and diversify our revenue. We expect this transaction to be immediately accretive to adjusted EBITDA and non-GAAP EPS."

Ultratech Chairman and Chief Executive Officer, Arthur W. Zafiropoulo said, "Both companies have a strong heritage of developing innovative and cutting-edge technologies. The combined company will create a formidable team to execute against growth opportunities and deliver significant value to customers and shareholders."

Veeco expects to realize approximately $15 million in annualized run rate synergies within 24 months after closing, to be achieved through increased efficiencies and leveraging the scale of the combined businesses. The combined company is expected to have an efficient balance sheet, benefiting from the deployment of excess cash.
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The transaction is expected to close in the second calendar quarter of 2017, subject to approval by Ultratech shareholders, regulatory approvals in the U.S. and other customary closing conditions.

Monday, January 2, 2017

Gallium nitride thin-film transistors produced in 200°C process by hollow cathode PEALD

Hollow cathode plasma sources, are an alternative to ICP and CCP sources and has been successfully introduced for PEALD by Meaglow Ltd. Semiconductor Today reports: Bilkent University in Turkey has developed a low-temperature process to create gallium nitride (GaN) back-gated thin-film transistors (TFTs) on flexible and rigid substrates [S. Bolat et al, Appl. Phys. Lett., vol 109, p233504, 2016]. The team reports that the "overall fabrication thermal budget is below 200°C, the lowest reported for the GaN-based transistors so far." 

According to the article in Applied Physics Letters, the GaN thin films were grown by hollow cathode plasma assisted atomic layer deposition (HCPA-ALD) at 200 °C using the popular Ultratech Cambridge Nantech Fiji PEALD system equipped with an HCP source from Meaglow. 

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