20 September 2023
Camtek buying FormFactor’s FRT Metrology business for $100m
Inspection and 3D metrology equipment maker Camtek Ltd of Migdal Haemek, Israel has agreed to acquire for $100m (subject to customary purchase price adjustments), the FRT Metrology business of FormFactor Inc of Livermore, CA, USA (a provider of test & measurement technologies along the full IC life-cycle – from metrology and inspection, characterization, modeling, reliability, and design de-bug, to qualification and production test).
FRT of Bergisch Gladbach, Germany is a supplier of high-precision metrology solutions for advanced packaging and silicon carbide. The acquisition is expected to leverage Camtek’s and FRT’s advanced technologies for advanced packaging and silicon carbide, which require new inspection and metrology steps in the semiconductor manufacturing processes.
With the addition of FRT’s unique hybrid multi-sensor SurfaceSens technology, Camtek will be able to provide broader and more comprehensive solutions for inspection and metrology.
“We expect this acquisition to solidify Camtek’s leading market position and contribute over $30m to the annual revenues in 2024 and be accretive within 12 months following the acquisition,” says Camtek’s CEO Rafi Amit. “We expect further synergies that will contribute to Camtek’s overall growth prospects in 2024 and beyond,” he adds.
“I’m extremely proud of the FRT team’s innovation and growth since FormFactor’s acquisition of this business in 2019,” comments FormFactor’s CEO Mike Slessor. “I’m also excited for the opportunity this team has to leverage Camtek’s established scale and expertise in inspection and metrology to deliver the next stage of growth from this business,” he adds. “FormFactor remains committed to developing and providing industry-leading test & measurement solutions for advanced packaging, helping enable the next phase of semiconductor innovation in applications like generative AI and co-packaged optics. We expect this transaction to maximize present and future FormFactor shareholder value by realizing a robust return on our investment while allowing us to focus our resources on strategic initiatives and industry-leading businesses where we have market leadership and significant scale.”
The transaction is expected to close in fourth-quarter 2023, subject to the satisfaction of customary closing conditions.