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28 October 2019

Merger of Nanometrics and Rudolph completed, forming Onto Innovation

Onto Innovation Inc has announced the completion on 25 October of the merger (agreed in June) between process control metrology and software analytics provider Nanometrics Inc of Milpitas, CA, USA and Rudolph Technologies Inc of Wilmington, MA, USA (which makes lithography equipment, process control systems and process control software for semiconductor and advanced packaging device makers).

Headquartered in Wilmington, Onto Innovation is expected to be the fourth largest semiconductor capital equipment supplier by revenue in the USA and a top 15 semiconductor equipment company worldwide (based on Gartner’s most recent wafer fab equipment market share report, released in April).

Shares of Nanometrics common stock (which were traded on Nasdaq under the ticker ‘NANO’) have begun trading on the New York Stock Exchange under the ticker ‘ONTO’. Rudolph shares ceased trading on the New York Stock Exchange on 25 October and have converted into 0.8042 shares of Onto Innovation common stock for each Rudolph share.

Board of directors

Onto Innovation says that its new board of directors consists of 12 members with a deep understanding of Nanometrics’ and Rudolph’s businesses, a diverse mix of background, skills and experience, and a track record of driving long-term shareholder value. Drawn equally from Nanometrics and Rudolph, they are:

  • Christopher A. Seams – chairman, former CEO, Deca Technologies;
  • Michael P. Plisinski – CEO, former CEO of Rudolph Technologies;
  • Jeffrey A. Aukerman – former partner at Deloitte & Touche LLP;
  • Leo Berlinghieri – former CEO & president of MKS Instruments;
  • Edward J. Brown Jr – former CEO of Cymer Light Source;
  • Vita Cassese – CEO, Mardon Management Advisors;
  • Robert G. Deuster – former CEO, Collectors Universe;
  • David B. Miller – former President, DuPont Electronics & Communications;
  • Bruce C. Rhine – former CEO, Accent Optical Technologies;
  • Timothy J. Stultz – former CEO & president, Nanometrics;
  • Christine A. Tsingos – former executive VP & CFO, Bio-Rad Laboratories;
  • John R. Whitten – former CFO & treasurer, Applied Industrial Technologies.

Structure and leadership

The Onto management team will be led by Mike Plisinski, CEO, and Steven Roth, CFO. The new organization, like the board, is a combination of Nanometrics and Rudolph executives that will manage the firm’s product lines and corporate functions. The center for metrology innovation will be located in Milpitas, CA, with the inspection innovation center remaining in Bloomington, MN. Software and lithography innovation centers will remain in Wilmington, MA.

“We have created a powerful new choice for customers seeking advanced process control solutions across the semiconductor value chain,” believes Plisinski. “Our customers are under increasing pressure to improve device performance, reduce costs and improve product cycle times. To meet these demands they seek collaborative partners with whom they can work to solve a broader suite of challenges,” he adds. “Onto Innovation will leverage core competencies in software and optics to provide leading-edge products in inspection, metrology, lithography and enterprise process control.”

See related items:

Nanometrics and Rudolph agree merger

Tags: Nanometrics Rudolph Metrology

Visit: www.ontoinnovation.com

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