Sumitomo Precision Products has provided the most significant boost to Tegal’s well-known wish to completely exit the semiconductor equipment market and turn itself in to solar energy project developer, by acquiring Tegal’s the Deep Reactive Ion Etch (DRIE) portfolio and certain related assets.
Financial details were not disclosed as part of the announcement which will see Sumitomo’s subsidiary, SPP Process Technology Systems (SPTS) takeover the assets. SPTS also acquired in recent years, Aviza Technologies, another struggling small cap equipment supplier.
"The sale of the Tegal DRIE assets to SPTS secures our technology, team members, active joint development projects in France, and ensures continuation of our commitments to customers globally," commented Thomas Mika, president and CEO, Tegal Corporation. "This event represents another major step in Tegal's transformation from semiconductor capital equipment supplier to its new role in providing green energy." Tegal recently announced participation in the formation of sequel Power, a company engaged in large scale photovoltaic-based solar utilities.
The SPTS acquisition includes the Tegal DRIE product line (including 200, 110, 3200 and 4200 series), along with the Compact and Pluto development assets, intellectual property and usual process know-how.