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Nanometrics strengthens role in lithography with acquisition of Soluris |
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Mar 16, 2006 at 09:50 AM |
 Nanometrics has made its second strategic
acquisition in recent months to strengthen its position in the growing
metrology related fields surrounding CD measurement and overlay of critical
poly layers related to lithography process steps.
The company has announced the acquisition of Soluris, formerly the overlay and CD control division of Schlumberger Ltd. Nanometrics is acquiring the small metrology company in an all cash transaction valued at $7.0 million, according to a press statement.
"The acquisition of Soluris provides Nanometrics with superb optical and electron technology, a strong installed base of new customers, and an excellent team of individuals that we expect to make an outstanding contribution to our company," added John Heaton, CEO of Nanometrics. "Soluris' overlay position is well-established and provides consistent revenue and profits that we expect to be immediately accretive to our earnings per share."
In January, Nanometrics acquired another overlay metrology specialist, Accent Optical Technologies in a share deal that valued Accent at $80.9 million US dollars. Both companies were said to be cash generative to Nanometrics in the current fiscal year.
The combined acquisitions are expected to result in trailing annual revenues above $120.0 million US dollars and propel the company higher in the metrology ranks as the market has been populated with over 20 companies with revenues less that $20 million in annual revenues for many years.
The metrology market place is still dominated by KLA-Tencor, Applied Materials and Hitachi. Consolidation has long been muted by market analysts ever since the merger between KLA and Tencor in the 1990's. In March of this year Rudolph Technologies and August Technology finally merged to form a larger competitor in the defect inspection market. Indeed, not to be outdone KLA-Tencor announced at the end of February that it would acquire ADE in an all stock deal worth $488 million US dollars.
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