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Latest Test and Measurement NewsCascade Microtech acquires ATT Advanced Temperature Test Systems GmbH08 November 2013 - Cascade Microtech acquired ATT Advanced Temperature Test Systems GmbH ("ATT Systems"), which is headquartered in Munich Germany. ATT Systems is manufacturing advanced thermal systems used in the testing of semiconductor wafers. ATT Systems provides enhanced thermal solutions for wafer testing over expanded temperatures that typically range from -60 to 300 degrees centigrade. Cascade Microtech believes the acquisition strategically positions the combined companies for future system development and access to larger markets. ATT Systems' management team will remain with the company in Munich. The purchase price for the acquisition includes approximately 8.4 million Euros in cash (net of approximately 0.4 million Euros of acquired cash), approximately 1.6 million shares of Cascade Microtech common stock, and deferred payments of approximately 0.8 million Euros. The purchase price is subject to certain post-closing adjustments. The shares of common stock issued in the transaction are subject to a one-year lock-up agreement. "As Cascade Microtech enters new markets and expands its portfolio to address new technology nodes, we are seeking innovations in instrumentation and sub-systems," said Michael Burger, President and CEO, Cascade Microtech. "This acquisition gives us access to thermal system capabilities, both in design expertise and through ATT Systems' high-performance products, which we expect will complement our development of next-generation systems for customers demanding the highest performance at thermal extremes, while addressing new applications such as 3D structures and FinFETs. ATT Systems provides a key component of our strategic plan and supports our customers' rapidly accelerating test requirements." "This acquisition strengthens Cascade Microtech's financial position," said Jeff Killian, Chief Financial Officer, Cascade Microtech. "The acquisition provides a basis for revenue growth, market expansion and vertical integration and we expect that it will have an immediate and positive contribution toward our success model." Related Articles: |
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