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To: FLSTF97 who wrote (563)10/21/1999 5:41:00 PM
From: Duker  Read Replies (1) | Respond to of 721
 
FSI wraps up YieldUP acquisition

Semiconductor Business News

(10/21/99, 05:16:13 PM EDT)

MINNEAPOLIS--FSI International Inc. here has completed its acquistion of YieldUP International Corp., the company said here today.

YieldUp will operate as SCD Mountain View Inc., a wholly-owned subsidiary of FSI. The operations will continue in California and be integrated into FSI's Surface Conditioning Division. The SCD Mountain View operations will be managed by Raj Mohindra, vice president and general manager.

Under the terms of the acquisition, YieldUP shareholders received $0.7313 and 0.1567 of a share of FSI common stock for each share of YieldUP stock. FSI expects to record $7.0 million of in-process R&D expenses in connection with the acquisition.

FSI announced its intention to acquire YieldUP in January (see Jan. 22 story). Adding YieldUp's immersion cleaning, rinsing and drying equipment to FSI's wafer management portfolio allows FSI to offer ?total cleaning solutions,? said Dale A. Courtney, president of the Surface Conditioning Division.