Onto Innovation Merger Completed
Nanometrics and Rudolph Technologies merger creates World's fourth largest semiconductor capital equipment supplier
Onto Innovation Inc has announced the successful completion on October 25, 2019 of the previously announced merger of equals between Nanometrics and Rudolph Technologies.
Headquartered in Wilmington, Massachusetts, Onto Innovation is expected to be the fourth largest semiconductor capital equipment supplier by revenue in the US and a top 15 semiconductor equipment company by revenue worldwide, based on Gartner's most recent semiconductor wafer fab equipment market share report, released in April 2019.
The merger produces a semiconductor equipment and software technology company with a broad portfolio of technologies for wafer manufacturing, front-end process control, and advanced packaging. Technologies include: 3D metrology spanning the chip from nanometer-scale transistors to micron-level die-interconnects; macro defect inspection of wafers and packages; metal interconnect composition; factory analytics; and lithography for advanced semiconductor packaging.
The balance sheet shows over $300 million in cash, cash equivalents and marketable securities at closing, with no debt.
The Onto Innovation management team will be led by Mike Plisinski, CEO, and Steven Roth, CFO. The new organisationis a combination of Nanometrics and Rudolph executives that will manage the company's product lines and corporate functions. The centre for metrology innovation will be located in Milpitas, CA, with the inspection innovation centre remaining in Bloomington, MN. Software and lithography innovation centres will remain in Wilmington, MA.
Mike Plisinski stated: “By bringing these two companies together, we believe we have created a powerful new choice for customers seeking advanced process control solutions across the semiconductor value chain. 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 continued: “Onto Innovation will leverage core competencies in software and optics to provide leading edge products in inspection, metrology, lithography, and enterprise process control. We believe our combination of complementary products and an experienced and passionate team will make an ideal choice for customers and create opportunities that increase value to all of our stakeholders, including our employees, customers, and shareholders.”