Automated optical inspection equipment maker Camtek Ltd. (Nasdaq: CAMT; TASE:CAMT) has signed an agreement to acquire SELA- Semiconductor Engineering Laboratories Ltd.. SELA develops, manufactures and markets automated SEM (Scanning Electron Microscope) and TEM (Transmission Electron Microscope) sample preparation equipment, primarily for the semiconductor industry.
Camtek will pay SELA's shareholders future payments of up to $9.5 million for the company, based on SELA's revenue.
Yokne'am based SELA has 26 employees and revenue of $3.8 million in 2008, down from $4.4 million in 2007. the company has more than 275 systems installed worldwide. Many of these systems are located at leading semiconductor fabrication facilities and clients include HP, Motorola and Samsung.
Camtek expects to complete the deal during the fourth quarter of 2009.
Camtek CEO Rafi Amit said, "This acquisition of SELA is directly aligned with our strategy of further enhancing Camtek's position and presence in the semiconductor market, enabling us to further expand our offering to this market. We intend to leverage Camtek's global infrastructure, sales and support teams, manufacturing and facilities, to service SELA's existing customer base, while targeting new customers."
Camtek's share closed at $1.03 on Nasdaq yesterday, giving a market cap of $30.05 million and rose 3.6% by mid-afternoon on the TASE today to NIS 3.78.
Published by Globes [online], Israel business news - www.globes-online.com - on September 29, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009