Ultratech Stepper to Acquire the Assets of Integrated Solutions
biz.yahoo.com
SAN JOSE, Calif.--(BUSINESS WIRE)--May 19, 1998--Ultratech Stepper, Inc. (NASDAQ/NM Symbol:UTEK - news) today announced it has signed a definitive agreement to acquire the assets of Integrated Solutions, Inc. (''ISI''), a privately held manufacturer of i-line and deep ultra violet (UV) reduction lithography systems based in Tewksbury, Massachusetts and Austin, Texas. Terms of the agreement were not disclosed. The acquisition is expected to close within 30 days.
Arthur W. Zafiropoulo, Chairman and Chief Executive Officer, stated, ''The acquisition of ISI's assets positions Ultratech to offer customers a broader range of lithography solutions, including our patented 1X and e-beam technologies, and now i-line and deep UV reduction steppers. ISI's lithography products are an outstanding addition to our portfolio, as they offer the combination of productivity and cost-effectiveness that is the cornerstone of Ultratech's corporate strategy.''
''We expect to focus the reduction stepper products acquired on disk drive and selected semiconductor market applications,'' Zafiropoulo continued. The acquired products were developed under an R&D grant from Sematech, a consortium of semiconductor device companies with US government funding, which led the development of leading-edge lithographic process equipment.
The reduction stepper product line will continue to operate in the Massachusetts location, which has experienced technical personnel to support the growth of this operation. |
