Rudolph Technologies Completes Acquisition of ISOA
Wednesday September 25, 2:21 pm ET
FLANDERS, N.J., Sept. 25 /PRNewswire-FirstCall/ -- Rudolph Technologies, Inc. (Nasdaq: RTEC - News), a worldwide leader in process control metrology systems, today announced that it has completed its all-cash acquisition of privately held ISOA, a defect control company based in Richardson, Texas, for approximately $24.2 million.
ISOA is a spin-off from Texas Tech University's International Center for Informatics Research (formerly the Institute for Studies of Organizational Automation). Over the past 16 years, ISOA has licensed its technology for use in the semiconductor industry and recently began transitioning to a semiconductor capital equipment supplier. The Company's core technologies are Knowledge Based Algorithms used in wafer macro defect detection and classification. Customers in Asia, Europe and the U.S are currently using its recently introduced WaferView family of tools. The technology improves semiconductor chip manufacturer's process yields, reduces inspection costs and maximizes efficient production for increased profits. Following the completion of the transaction, ISOA will continue to maintain its offices in Richardson, TX and will become the Yield Metrology Group of Rudolph. Additionally, ISOA's tool manufacturing, currently outsourced to Japan, will be moved to Rudolph's Ledgewood, New Jersey facility. ISOA currently has approximately 45 employees with one third holding advanced degrees.
"This acquisition supports our overall strategy to deliver the most comprehensive set of solutions and the highest quality tools to the semiconductor market," commented Paul F. McLaughlin, Chairman and CEO. "Furthermore, we believe this is an important step as we are entering the defect inspection market -- currently valued at over one billion dollars. This will greatly expand Rudolph's product offering, provide additional value to our customers and additional revenue streams to grow our business."
As previously reported, Dr. Kathleen Hennessey, ISOA's founder, will continue to lead the operations (recently renamed Yield Metrology Group) as Vice President and General Manager, reporting to Paul F. McLaughlin. Dr. Hennessey has over 35 years experience specializing in knowledge-based systems, artificial intelligence, databases and data communications. She and Dr. YouLing Lin, Chief Technology Officer of ISOA, are among the 11 ISOA founders that joined Rudolph.
About Rudolph Technologies
Rudolph Technologies is a worldwide leader in the design, development, manufacture and support of high-performance process control metrology systems used by semiconductor device manufacturers. The Company provides a full-fab solution through its families of proprietary systems for metrology applications used throughout the device manufacturing process. Rudolph's product development has successfully anticipated and addressed many emerging trends that are driving the semiconductor industry's growth. The Company's success in creating complementary metrology applications through aggressive research and development is key to Rudolph's strategy for continued technological and market leadership.
This press release contains forward-looking statements, including statements related to our revenue expectations and our anticipated leadership position in the industry. Actual results may differ materially from those projected due to a number of risks, including the impact of the slowdown in the overall economy and the uncertainty of the current global political environment following the recent terrorist attacks, changes in customer demands for our existing and new products, the timing, cancellation or delay of customer orders and shipments and the timing of revenue recognition of shipments, new product offerings from our competitors, changes in or an inability to execute Rudolph Technologies' business strategy, unanticipated manufacturing or supply problems, changes in tax rules, and inability to integrate ISOA. Rudolph Technologies cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in Rudolph Technologies' Form 10K filed for the year ended December 31, 2001. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Rudolph Technologies does not assume any obligation to update the forward-looking information contained in this press release.
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Source: Rudolph Technologies, Inc. |
