ATMI Acquires TeloSense Corporation; Sensor Operation to be Integrated into EcoSys Environmental Business
DANBURY, Conn.--(BUSINESS WIRE)--May 5, 1999--ATMI, Inc. (Nasdaq: ATMI), today announced it has acquired TeloSense Corporation in a pooling of interests deal valued at approximately $5.5 million.
In this transaction, ATMI issued approximately 231,600 shares of its common stock to TeloSense shareholders. ATMI intends to combine its Q4D venture with TeloSense, into an expanded gas sensor operation which will be run as a division of its EcoSys semiconductor environmental business. The combined ATMI Monitoring Systems Business will report to Terry Tabler, Vice President and General Manager.
TeloSense Corporation is a private company based in Fremont, CA, founded by John Urmson and Bill Scott in 1980. Both will remain active in the business. TeloSense is among the top 3 companies in semiconductor gas detection. TeloSense's patented SonoSense(tm) acoustic gas sensing technology analyzes the speed of sound through air to selectively monitor for the presence of hydrogen in their H2M (Hydrogen Monitor). Other TeloSense products include the ACM (Air Composition Monitor) using FT-IR (Fourier Transform Infrared Spectroscopy) for the detection of acid gases, VOCs (volatile organic compounds) and HAPs (Hazardous Air Pollutants); and the TGM (Toxic Gas Monitor) for the detection of extremely low levels of metal hydride and other toxic gases using Molecular Emission Spectroscopy.
Peter Kirlin, ATMI Technologies Executive Vice President, said, "Adding TeloSense to ATMI's Q4D venture accelerates our gas sensor business to market critical mass. Moving forward, the business brings to customers a comprehensive product line of state-of-the art semiconductor gas detection equipment. By operating this business under EcoSys, we are expanding EcoSys's abilities to monitor, detect, and abate hazardous semiconductor gases."
John Urmson, President and Founder of TeloSense, commented, "Bringing TeloSense under the ATMI Science banner offers us a significant opportunity to expand our market presence. The Q4D point-of-use gas sensors fit well into our centralized gas detection product lines. Combining gas detection with EcoSys abatement technology creates a complete, one-stop shopping package for customers who need to monitor and abate hazardous gases." |
