Cascade Microtech has acquired SUSS MicroTec AG's semiconductor test systems business, which specializes in wafer-level test solutions for devices under test (DUT), and strengthens Cascade Microtech's position as one of the worldwide leaders in the design, development and manufacture of advanced wafer probing solutions for the electrical measurement and test of semiconductor integrated circuits (ICs) and chips.
Under the terms of the agreement, Cascade Microtech has acquired all of the outstanding capital stock of SUSS MicroTec Test Systems GmbH, a wholly owned subsidiary of SUSS MicroTec, plus other related assets. The purchase price, which is subject to a post-closing purchase price adjustment, consists of a fixed amount and an amount placed in escrow. The fixed component amounts to Euro4.5 million ($6.3 million) of which Euro2 million ($2.8 million) was paid in cash and Euro2.5 million ($3.5 million) was paid in shares of Cascade Microtech common stock. In addition, an amount of Euro2.5 million ($3.5 million) has been placed in escrow and will be released to the seller upon meeting certain post-sale conditions. Cascade Microtech expects the acquisition to be accretive by the end of 2010.
The acquisition of SUSS MicroTec Test Systems GmbH should afford Cascade Microtech the opportunity to leverage its position and focus the necessary resources towards significant efforts in achieving leading-edge customer solutions to address accelerated growth markets.
Chip manufacturers today are creating complex devices of unprecedented performance, features and functionality, straining traditional test methodologies. The industry continues to drive down geometries used in a variety of applications following Moore's Law. The leading-edge test technology of Cascade Microtech, enhanced by this acquisition, should provide a market opportunity to engage and satisfy the test demands created by this continual drive to smaller devices.
These expanded core competencies should enable Cascade Microtech to further support and fulfill customers' complex semiconductor probing and measurement requirements. Additional customer benefits include an expanded global service network and a strong commitment to customer satisfaction and technology leadership.
Cascade Microtech
