News Article
Aviza and Trikon merger to create 700-strong company
US thermal process and atomic layer deposition company Aviza Technologies has reached an agreement to merge with Welsh plasma etching and deposition firm Trikon Technologies.
US thermal process and atomic layer deposition company Aviza Technologies has reached an agreement to merge with Welsh plasma etching and deposition firm Trikon Technologies.
The merger has already been approved by Aviza's stockholders and is now awaiting backing from Trikon's stockholders.
Under the terms of the deal, Aviza and Trikon will consolidate under a new holding company, Aviza Technology Inc, that is expected to trade on the Nasdaq National Market.
Former Aviza stockholders will own around 60% of the new company while Trikon shareholders will have a 40% share. VantagePoint Venture Partners, Aviza's largest stockholder, will end up owning about 50% of the new company.
Last year Trikon and Aviza generated revenues of US$160 million. The new company will have around 700 employees and be responsible for an installed base of more than 3,000 systems worldwide.
Current Aviza president and chief executive officer Jerry Cutini will become president and CEO of the new company while Trikon CEO Dr John Macneil will assume the role of executive vice president and chief technology officer.
The board of directors will comprise seven members, three each from Aviza and Trikon and a new outside director to be named. The chairman of the board will be Robert Anderson, who currently serves on the board of directors for Trikon.
Cutini said that the merger would be good for both companies because it would allow them to provide a broader range of products to the industry and also share research and development costs.
"Since Aviza acquired ASML's thermal division 17 months ago, we have been committed to growing the company. The consolidation with Trikon fits Aviza's roadmap well and reinforces our commitment to growth. It further expands our global customer reach and complements our technology and product portfolios," he said.
"With this consolidation, we believe that Aviza will be well positioned to leverage the combined technology and business expertise and deliver continued innovation of leading-edge manufacturing tools and processes as the industry continues to push the limits of Moore's Law."
Trikon CEO Dr John Macneil said that the two companies were a good match for each other. "We believe there is great synergy between Trikon's and Aviza's product offerings, and therefore expect this transaction to be very positive for both companies.
"Today's microelectronics industry requires a global supplier that can offer mission-critical solutions for transistor formation, interconnect and high value-add processes in resonators, advanced packaging and MEMS. We believe that this consolidation will provide the industry with a stronger and broader equipment supplier that worldwide device makers can rely on to address advanced manufacturing challenges by quickly and efficiently bringing new products and processes to market."
The merger has already been approved by Aviza's stockholders and is now awaiting backing from Trikon's stockholders.
Under the terms of the deal, Aviza and Trikon will consolidate under a new holding company, Aviza Technology Inc, that is expected to trade on the Nasdaq National Market.
Former Aviza stockholders will own around 60% of the new company while Trikon shareholders will have a 40% share. VantagePoint Venture Partners, Aviza's largest stockholder, will end up owning about 50% of the new company.
Last year Trikon and Aviza generated revenues of US$160 million. The new company will have around 700 employees and be responsible for an installed base of more than 3,000 systems worldwide.
Current Aviza president and chief executive officer Jerry Cutini will become president and CEO of the new company while Trikon CEO Dr John Macneil will assume the role of executive vice president and chief technology officer.
The board of directors will comprise seven members, three each from Aviza and Trikon and a new outside director to be named. The chairman of the board will be Robert Anderson, who currently serves on the board of directors for Trikon.
Cutini said that the merger would be good for both companies because it would allow them to provide a broader range of products to the industry and also share research and development costs.
"Since Aviza acquired ASML's thermal division 17 months ago, we have been committed to growing the company. The consolidation with Trikon fits Aviza's roadmap well and reinforces our commitment to growth. It further expands our global customer reach and complements our technology and product portfolios," he said.
"With this consolidation, we believe that Aviza will be well positioned to leverage the combined technology and business expertise and deliver continued innovation of leading-edge manufacturing tools and processes as the industry continues to push the limits of Moore's Law."
Trikon CEO Dr John Macneil said that the two companies were a good match for each other. "We believe there is great synergy between Trikon's and Aviza's product offerings, and therefore expect this transaction to be very positive for both companies.
"Today's microelectronics industry requires a global supplier that can offer mission-critical solutions for transistor formation, interconnect and high value-add processes in resonators, advanced packaging and MEMS. We believe that this consolidation will provide the industry with a stronger and broader equipment supplier that worldwide device makers can rely on to address advanced manufacturing challenges by quickly and efficiently bringing new products and processes to market."
