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Financial details disclosed of Asyst Technologies asset sale

05 August 2009 | By Mark Osborne | News > Fab Management

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Asyst Technologies has confirmed the sale of the majority of its business operations to three separate companies, confirming Fabtech’s recent blog on the sales, which were revealed during the recent SEMICON West event in San Francisco in mid-July, 2009.

“We have been looking for an entry point into the complimentary atmospheric wafer handling market since our official market entry last year,” stated Jed Keller, President and CEO for Crossing Automation. “The fact that we have been able to come to agreement to acquire the leading provider of such technology puts us in an extremely strong position to service the semiconductor equipment market with a complete set of automation solutions that help manufacturers improve reliability and drive down cost.”

Asyst said in a statement, though without financial details being disclosed that Crossing Automation had acquired Asyst’s Fab Automation assets, while The PEER Group had acquired Asyst’s Connectivity Software assets. The major acquisition was made by Murata Machinery Ltd, which had acquired Asyst’s AMHS-related U.S. assets, including the U.S. AMHS field service and installation business.

However, financial details were disclosed at Asyst’s Chapter 11 information website. Murata paid US$115 million for the AMHS assets and a further US$5 million for the AMHS operations in the U.S.

The Peer Group acquired the ‘Software Connectivity Group’ for US$2 million and Crossing Automation purchased the robotics division for US$6.5 million.

Mike Kropp, PEER Group's Chief Operating Officer, said, “Asyst's market-leading connectivity products are the basis for tens of thousands of production automation connections around the world. Leveraging their solid technology foundation and large installed base will enable us to more rapidly implement our strategy to bring manufacturing productivity solutions to both the semiconductor and photovoltaic industries.”

“This move demonstrates how serious we and our investors are in relation to the market and the opportunity that exists,” stated Jed Keller, President and CEO for Crossing Automation. “As a combined entity we will be better positioned to engage mainstream semiconductor equipment companies with a complete automation solution set. We will continue to pursue a model focused on the process equipment market that brings greater value and flexibility to these customers while offering a larger set of modular building blocks that will drive down costs through innovation and scale.”

“Beginning immediately, our energies will be focused on our global customer base and working with each of these partners to assure a smooth transition,” commented Paula LuPriore, Asyst's Chief Restructuring Officer. “Throughout the transition period and beyond, Asyst customers will continue to receive product licenses, upgrades, and technical support as provided in our existing contracts."

The purchases result in revenue of close to US$129 million to Asyst, which are expected to go towards repaying debts.

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