Kibbutz semiconductor firm buys Israeli start-up

Semiconductor equipment maker Ricor Cryogenic and Vacuum Systems Ltd. has acquired Israeli start-up Innersense Ltd., which has developed smart wafer technology. The companies did not disclose the amount of the deal, but sources inform ''Globes'' that it totaled a few million dollars.

Ricor was founded at Kibbutz Ein Harod Ihud in 1967. The company manufactures cryogenic equipment and purging solutions for the semiconductor industry. Buyout fund Tene Investments invested in the company 18 months ago.

Innersense's miniature sensor technology is used for monitoring and troubleshooting wafer handling equipment for the semiconductor industry. The company's founders are its only investors, except for a grant from the Office of the Chief Scientist. Innersense co-CEO Erez Harel said, "At some point, Ricor saw the synergy between the companies and decided to buy us."

Published by Globes [online], Israel business news - www.globes-online.com - on April 1, 2008