The finance package is one element of a global debt and equity transaction designed to strengthen Orbotech's overall balance sheet and to provide working capital for SPTS
to use in expanding operations.
Technologies, an Orbotech company, designs, manufactures, sells, and supports etch, PVD, CVD and thermal wafer processing solutions for the MEMS, advanced packaging, LEDs, high speed RF on GaAs, and power management device markets.
It also reflects the expectation that the company will use free cash-flow to deleverage while the acquisition of SPTS
is financed with a term loan and cash on hand.
We are very pleased to have made this milestone shipment to Cypress," said Vivek Rao, vice president and general manager of SPTS
Thermal Products Division.
6m in cash and the assumption by SPTS
of approximately USD0.
Kevin Crofton, Corporate Executive Vice President at Orbotech and President of SPTS
Technologies, commented: The MEMS industry is undergoing device-shrink trends similar to the overall semiconductor industry, where designers and manufacturers are continually challenged to deliver more functionality with lower power consumption and at lower cost.
employs nearly 300 people at its headquarters and main manufacturing site in Newport.
Tegal sold to SPTS
the Tegal 200[TM], 110[TM], 3200[TM] and 4200[TM] series DRIE products, along with its Compact[TM] and Pluto development assets, intellectual property and process know-how.
8 August 2014 - Israel-based automated optical inspection (AOI) systems specialist Orbotech Ltd (NASDAQ:ORBK) has completed its deal to acquire UK etch, deposition and thermal processing equipment maker SPTS
Technologies Group Limited.
The strong relationship between our two organizations continues with this agreement," added Susumu Kaminaga, chairman of SPTS
and president of Sumitomo Precision Products (SPP).
a leading global supplier of yield-enhancing and process-enabling solutions for the manufacture of electronics products, today announced that it was selected as the winner by Calcalist, one of Israels leading financial publications, and BDO, an accounting and consulting firm, Most Successful Business Accomplishment of the Year for its acquisition of SPTS
, which has a manufacturing site in Newport, designs, manufactures, sells and supports advanced capital equipment which, as part of the production process for microchips, is used to deposit and remove materials from semiconducting wafers.