Chroma to Acquire 20.5% of Camtek for $58.1 Million

11 February, 2019

Camtek will license its triangulation technology for non-semiconductor applications to be used by Chroma, while Chroma and Camtek will cooperate in potential projects for the semiconductor market

The Taiwanese Test and Measurements provider, Chroma ATE, is becoming a strategic partner of Camtek Ltd. through a share purchase and a technological licensing & cooperation agreements. Camtek announced today that Chroma has entered into a definitive agreement to acquire approximately 20.5% of the shares of Camtek, in a cash transaction. Chroma will acquire Camtek shares from Priortech Ltd., the controlling shareholder of Camtek, for $58.1 million. In addition, Camtek will issue 1.7 million new shares for $16.2 million. The deal brings Camtek’s Market Cap evaluation to $283.4 million.

The transaction is expected to close by the end of the second quarter of 2019, subject to the Camtek’s shareholders and the regulatory bodies approvals. After the closing of the transaction, Chroma will be entitled to two seats on Camtek’s Board of Directors. The investment agreement includes a cooperation an agreement: Camtek will license its triangulation technology, a metrology solution, in a fee-bearing license for non-semiconductor applications to be used by Chroma, while Chroma and Camtek have also agreed to cooperate in potential projects for the semiconductor market based on synergies between their inspection and metrology technologies.

New Strategic Partnership

Camtek is a 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. Rafi Amit, Camtek’s CEO, said that the agreements will strengthen Camtek’s presence in Asia, and in Taiwan in particular. “I am sure that this is the beginning of a long-term and synergistic relationship that will benefit both Camtek and Chroma.”

Chroma is a manufacturer of high precision test and measurement instrument and automated system level testing (SLT) solutions for GPU, AI, Auto IC and 3D sensing markets. Its annual 2017 revenues totaled USD480 million. Leo Huang, Chroma’s Chairman & CEO, commented, revealed one of his goals: “We will be able to leverage our White Light Interferometry (WLI) technology, covering several high precision and large object testing and measurement applications, and utilizing Camtek’s patented Triangulation technology. The combination of both technologies will strengthen Chroma’s 3D metrology capabilities for serving broad set of fast growing industries and applications.”

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