Nova Measuring Instruments Ltd. (Nasdaq:NVMI; TASE:NVMI) will supply its integrated metrology solutions to a company it called "one of the world's leading foundries". Market sources believe that the foundry is IBM Inc. (NYSE: IBM), and that the contract could be worth $10 million in 2010.
Nova is defined in the deal "as the sole provider of Stand Alone Optical CD metrology for both back end and front end of line applications", adding that it expects to receive several stand alone tool orders in the coming quarters.
The contract follows an order announced earlier this month from a new memory customer in the Asia Pacific region, which led Nova to raise its guidance for the third quarter.
Rehovot-based Nova develops stand-alone metrology solutions for the semiconductor process control market. The share closed at $2.26 on Nasdaq yesterday, giving a market cap of $44 million. The share rose 7.2% by midday on the TASE to NIS 9.29.
In the present contract, Nova will supply its NovaT500 and NovaMARS for both the 22 nanometer and 32 nanometer technology processors made by the customer.
Nova president and CEO Gabi Seligsohn said, "Winning the support of this particular customer, who is known as a technology leader and an industry benchmark, is of huge strategic value to the company. With this third major foundry win we further expand our reach into this growing segment, an area where most capital spending is expected to continue in the coming years."
Published by Globes [online], Israel business news - www.globes-online.com - on September 29, 2009
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