SUSS MicroTec AG Sells Test Systems Division
SUSS MicroTec has sold its Test Systems Division, located in Sacka near Dresden, Germany, together with other related assets to Cascade Microtech Inc., a leader in the precise electrical measurement and test of integrated circuits. The purchase price for the SUSS MicroTec Test Systems GmbH, which is subject to a post-closing purchase price adjustment, is cash and debt free, and consists of a fixed amount and an amount placed in escrow. The fixed component amounts to €4.5 M of which €2 M was paid in cash and €2.5 M was paid in shares of Cascade Microtech common stock. In addition, €2.5 M has been placed in escrow and will be released to the seller upon meeting certain post-sale conditions.
SUSS MicroTec Test Systems is a global supplier of measurement and test systems for the semiconductor industry, employs approximately 120 staff at its Sacka site and its international subsidiaries. With the divestment of the Test System division and the recent acquisition of HamaTech APE, SUSS MicroTec will focus on its core competency of microstructuring for microelectronics applications.
“Divesting the SUSS MicroTec Test Systems GmbH allows us to focus on manufacturing solutions for our high growth core markets of advanced packaging, 3D integration, LED and MEMS,” said Frank P. Averdung, President and CEO of SUSS MicroTec. “Having a broad product range for 3D integration, we anticipate future collaboration with Cascade Microtech in order to address the complex issues in developing and testing 3D through silicon vias (TSV).”
Through the acquisition of SUSS MicroTec Test Systems GmbH, Cascade Microtech will strengthen its market leadership position in the semiconductor test probe station market, focusing the necessary resources towards developing leading-edge customer solutions to address accelerated growth markets.
“This is a key strategic move for Cascade Microtech, which strengthens our product portfolio and leverages our combined resources and competencies,” said F. Paul Carlson, Chairman and CEO, Cascade Microtech Inc. “We now have the critical mass to focus on the technical challenges our customers have in developing semiconductor processes and designing devices into the next decade. This acquisition enables us to aggressively address emerging applications such as 3D TSV, LED and MEMS that are on an accelerated growth curve.”