To facilitate its next stage of growth, FRT will join Camtek,
a leading supplier in inspection and metrology.
MIGDAL HAEMEK, Israel and LIVERMORE, Calif., Sept. 18,
2023 /PRNewswire/ -- Camtek Ltd. (NASDAQ: CAMT)
(TASE: CAMT), together with FormFactor, Inc. (NASDAQ: FORM), are
pleased to announce that they have entered into an agreement for
the acquisition by Camtek of FormFactor, Inc.'s FRT Metrology
("FRT") business for $100 million in
cash, subject to customary purchase price adjustments.
FRT, headquartered in Bergisch Gladbach, Germany, is a leading supplier of
high-precision metrology solutions for the Advanced Packaging and
Silicon Carbide markets. Camtek is a market leader of inspection
and 3D metrology in the semiconductor industry. This acquisition is
expected to leverage Camtek's and FRT's advanced technologies of
Advanced Packaging and Silicon Carbide that require new inspection
and metrology steps in the semiconductor manufacturing
processes. Camtek, with the addition of FRT's unique hybrid
multi-sensor SurfaceSens™ technology, will be able to provide
customers with broader and more comprehensive solutions for
inspection and metrology.
"We welcome FRT and its employees to the Camtek family," said
Mr. Rafi Amit, Camtek's CEO.
"We expect this acquisition to solidify Camtek's leading market
position and contribute over $30
million to the annual revenues in 2024 and be accretive
within 12 months following the acquisition. Beyond the immediate
financial contribution, we expect further synergies that will
contribute to Camtek's overall growth prospects in 2024 and
beyond. We look forward to capturing a larger share of the unique
growth opportunities ahead of us."
Mike Slessor,
FormFactor's CEO, commented "I'm extremely proud of the FRT
team's innovation and growth since FormFactor's acquisition of this
business in 2019 and would like to thank the team for the strong
results they have delivered as part of the FormFactor family.
I'm also excited for the opportunity this team has to leverage
Camtek's established scale and expertise in inspection and
metrology to deliver the next stage of growth from this business.
FormFactor remains committed to developing and providing
industry-leading test and measurement solutions for advanced
packaging, helping enable the next phase of semiconductor
innovation in applications like generative AI and co-packaged
optics. We expect this transaction to maximize present and future
FormFactor shareholder value by realizing a robust return on our
investment while allowing us to focus our resources on strategic
initiatives and industry-leading businesses where we have market
leadership and significant scale."
The transaction is expected to close in Q4 2023, subject to the
satisfaction of customary closing conditions.
Conference Call
Camtek will host a conference call today via Zoom,
September 18, 2023, at
10:30 am ET (17:30 Israel time).
Rafi Amit, CEO, Moshe Eisenberg, CFO and Ramy Langer, COO will host the call and will be
available to answer questions.
To participate in the call, please register using the following
link, which will email the link with which to access the video
call:
https://us06web.zoom.us/webinar/register/WN_gizONPzjRaiDSlUPh0bpJQ
For those wishing to listen via phone, following registration,
the dial-in link will be sent.
For those unable to participate, a recording will be available
on Camtek's website at http://www.camtek.com within a few hours
after the call.
ABOUT CAMTEK LTD.
Camtek is a developer and manufacturer of high-end inspection
and metrology equipment for the semiconductor industry. Camtek's
systems inspect IC and measure IC features on wafers throughout the
production process of semiconductor devices, covering the front and
mid-end and up to the beginning of assembly (Post Dicing). Camtek's
systems inspect wafers for the most demanding semiconductor market
segments, including Advanced Interconnect Packaging, Heterogenous
Integration, Memory and HBM, CMOS Image Sensors, Compound
Semiconductors, MEMS, and RF, serving numerous industry's leading
global IDMs, OSATs, and foundries.
With eight offices around the world, Camtek has best-in-class
sales and customer support organization, providing tailor-made
solutions in line with customers' requirements.
CAMTEK LTD.
Moshe Eisenberg,
CFO
Tel: +972 4 604
8308
Mobile: +972 54 900
7100
moshee@camtek.com
|
INTERNATIONAL INVESTOR
RELATIONS
EK Global Investor
Relations
Ehud Helft
Tel: (US) 1 212 378 8040
camtek@ekgir.com
|
ABOUT FORMFACTOR
FormFactor, Inc. (NASDAQ:
FORM), is a leading provider of essential test and measurement
technologies along the full IC life cycle - from metrology and
inspection, characterization, modeling, reliability, and design
de-bug, to qualification and production test. Semiconductor
companies rely upon FormFactor's products and services to
accelerate profitability by optimizing device performance and
advancing yield knowledge. FormFactor serves customers through its
network of facilities in Asia,
Europe, and North America. For more information, visit
FormFactor's website at www.formfactor.com.
Investor Contact
Stan
Finkelstein
Investor Relations
(925) 290-4321
ir@formfactor.com
Forward-looking Statements:
This press release contains statements that may constitute
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based on Camtek's and FormFactor current beliefs,
expectations and assumptions about its business and industry, all
of which may change. Forward-looking statements can be
identified by the use of words including "believe," "anticipate,"
"should," "intend," "plan," "will," "may," "expect," "estimate,"
"project," "positioned," "strategy," and similar expressions that
are intended to identify forward-looking statements, including
expectations and statements relating to the proposed
transaction between Camtek and FormFactor, including statements
regarding the benefits and the timing of the transaction as well as
statements regarding the companies' products, prospects and results
following the transaction and markets. These forward-looking
statements involve known and unknown risks and uncertainties that
may cause the actual results, performance or achievements of both
Camtek and FormFactor to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such risks and uncertainties include,
among others, the risk that the transaction may not be completed in
a timely manner or at all, which may adversely affect the
companies' businesses and the price of their securities;
uncertainties as to the timing of the consummation of the
transaction and the potential failure to satisfy the conditions to
the consummation of the transaction; delays, disruptions or
increased costs in the integration of FRT's business with Camtek;
unanticipated restructuring costs may be incurred or undisclosed
liabilities assumed; attempts to retain key personnel, customers,
and vendors may not succeed; risks related to diverting
management's attention from Camtek's ongoing business operations;
exposure to inflation, currency rate and interest rate fluctuations
and risks associated with doing business locally and
internationally, as well as fluctuations in the market price of
Camtek's and FormFactor's traded securities; the impact of general
economic conditions on the on Camtek's and FRT's business; ongoing
or potential litigations or disputes, incidental to the conduct of
FRT's ongoing business, with customers, suppliers, landlords, or
other third parties; potential adverse reactions or changes to
business relationships resulting from the announcement or
completion of the transaction; potential negative changes in
general economic conditions in the regions or the industries in
which Camtek and Form Factor operate; and those other factors
discussed in Camtek's and FormFactor's Annual Reports on Form 20-F
and 10-K, respectively, and other documents filed by the Camtek and
FormFactor with the SEC as well as other documents that may be
subsequently filed by the companies from time to time with the SEC.
We caution you not to place undue reliance on forward-looking
statements, which speak only as of the date hereof. Camtek and
FormFactor do not assume any obligation to update any
forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release unless
required by law.
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SOURCE Camtek Ltd.