Israel's Nova Measuring Instruments Ltd. (Nasdaq:NVMI; TASE:NVMI) has acquired US company Revera Inc. for $46.5 million. Nova expects the deal to close by mid-April 2015.
Nova, headquartered in Rehovot, provides optical metrology solutions for advanced process control used in semiconductor manufacturing. ReVera, headquartered in Santa Clara, California is a leading provider of materials metrology solutions for advanced semiconductor manufacturing. ReVera's products focus on process control of composition and film thickness for complex, multi-layer film stacks in the most critical process steps. The synergy between Nova's Optical CD technology and ReVera's unique X-Ray Photoelectron Spectroscopy (XPS) technology will deliver leading edge solutions for superior process control at the most advanced technology nodes.
The acquisition is subject to customary closing conditions, and once closed expected to contribute $25-$30 million in annual revenue and be accretive on a non-GAAP basis within 12 months of closing.
Nova president and CEO Eitan Oppenhaim said, "This combination of complementary technologies creates the most innovative metrology portfolio in the industry focusing on the process control challenges evident at the most advanced technology nodes. ReVera's unique X-Ray technology is highly synergetic to Nova's Optical CD technology and will allow us to strengthen our market position with leading-edge customers in both the Memory and Logic segments."
Revera president and CEO Glyn Davis said, "We see this milestone as a great opportunity to combine unique technologies of the two companies to create a synergetic portfolio that best addresses current and future industry challenges. The strength of our complementary portfolio will broaden the available market and increase our ability to serve our customer base."
Published by Globes [online], Israel business news - www.globes-online.com - on March 12, 2015
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