Taoyuan, Taiwan (R.O.C.) February 11, 2019 – Leading high precision test and measurement equipment provider Chroma Ate Inc. (TAIEX: 2360) today announced to enter into a definitive agreement to acquire 20% shares of Camtek (Nasdaq and TASE: CAMT) a leading manufacturer of metrology and inspection equipment in cash transaction of US$ 74 million.
Chroma will acquire a total of 6,117,440 shares from Priortech (the controlling shareholder of Camtek) and a further 1,700,000 new shares issued by Camtek with cash payment of US$ 9.50 per share. The total cash transaction will be US$ 74 million, equivalent to NT$ 2.3 billion. After the completion of the investment, the Company shall acquire 7,817,440 ordinary shares of Camtek, representing approximately 20.5% of the issued and outstanding shares of Camtek. The transaction is expected to close in the end of second quarter 2019, subject to approval by relevant regulatory authorities, Committee on Foreign Investment in the United States (CFIUS), Taiwan Overseas Chinese and Foreign Investment Commission (MOEAIC).
“In 3D Metrology, Chroma have already developed White Light Interferometry (WLI), covered several high precision and large object testing and measurement applications. Today, through this strategic investment and alliance, we are able to utilize Camtek’s Triangulation technology (patented), which will strengthen Chroma’s 3D metrology capabilities of serving broad set of fast growing industries, including fabricated metals, Pouch Cell (for EV), Photovoltaic Cell. The strategic alliance and synergistic relationship will accelerate both parties’ technology development and future collective growth.” said Leo Huang, Chroma’s Chairman & CEO.
Rafi Amit, Camtek’s CEO, commented, “Today we signed agreements of strategic importance for Camtek, whereby Camtek is gaining an important shareholder that will enable it to strengthen its presence in Asia in general, and in Taiwan in particular. Together with Chroma, we will be able to benefit from our technology capabilities beyond the traditional semiconductors markets. I am proud by the vote of confidence that our technology and market position has today gained from a leading Asian-based corporation and I am sure that this is the beginning of a long-term and synergistic relationship that will benefit both, Camtek and Chroma.”
Technology Transfer
As part of the Investment, Camtek will license to Chroma its triangulation technology for non-semiconductor applications. Furthermore, the parties agreed to cooperate in potential projects based on synergies between their inspection and metrology technologies for the semiconductors market with the expectation of launching new competitive products in the market to further expand the Company’s market share and enhance the group’s growth.
Board of Directors
After closing of the transaction, Chroma will be entitled to two directors of Camtek Board.
Chroma Ate Inc. will host an investors conference for the fourth quarter financial results 2018, on Thursday, February 21 2019 at Far Eastern Plaza Hotel Taipei. The detailed information of above-mentioned deal will be released in the conference.
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About Chroma ATE Inc.
Chroma Ate Inc. (TAIEX: 2360) was founded in November 1984. Chroma is a world leading own brand manufacturer of high precision test and measurement instrument and automated test systems, intelligent manufacturing systems, semiconductors testers and turnkey solutions. Chroma serves in power electronic related components industries, Electric Vehicle and clean technology industries, while serving system level testing (SLT) for GPU, AI, Auto IC and 3D sensing markets. Chroma’s headquarters is located in Taoyuan, Hwa-Ya Technology Park, with engineering service offices worldwide including China, Europe, Taiwan and United States. For more information please visit our company website: www.chromaate.com
About Camtek Ltd.
Camtek Ltd. (NASDAQ: CAMT) is a leading manufacturer of metrology and inspection equipment and a provider of software solutions serving the Advanced Packaging, Memory, CMOS Image Sensors, MEMS, RF and other segments in the mid end of the semiconductor industry. Camtek provided dedicated solutions and crucial yield-enhancement data, enabling manufacturers to improve yield and drive down their product costs. With eight offices around the world, Camtek has best-in-class sales and customer support organization, providing tailor-made solutions in line with customers’ requirements. The Company website: www.camtek.com