Asyst Technologies, Inc. to Acquire Hine Design Inc.FREMONT, Calif.--(BUSINESS WIRE)--July 6, 1998--Asyst Technologies, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASYT), the leading supplier of manufacturing automation and Standard Mechanical InterFace (SMIF SMIF Standard Mechanical Interface SMIF Stream-based Model Interchange Format SMIF Shared Materials Instrumentation Facility (Duke University) SMIF Stanford Management Internship Fund SMIF SMAD4-Interacting Transcription Factor ) isolation to the global semiconductor industry, announced today that it has agreed to acquire Hine Design Inc. (Sunnyvale, Calif.), a leading supplier of wafer-handling robots for semiconductor process tools. With this acquisition, Asyst expands its product offerings for semiconductor factory automation, where Asyst is a leading supplier of material handling solutions to both OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and tool suppliers and chip makers. The transaction will be structured as a purchase of stock for approximately $12 million in cash and the assumption of certain debt liabilities of $12 million. Other terms of the deal were not disclosed. When the transaction is completed, Hine Design will become a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Asyst. The transaction is subject to certain conditions, including the expiration or early termination of thewaiting period under the Hart-Scott-Rodino Antitrust Improvements Act The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (Public Law 94-435, known commonly as the HSR Act) is a set of amendments to the antitrust laws of the United States, principally the Clayton Antitrust Act. The HSR Act was signed into law by President Gerald R. and other customary regulatory and legal approvals, and is expected to be finalized in the second quarter of fiscal 1999. Asyst's President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Terry Moshier noted that the Hine Design acquisition is the latest development in Asyst's strategic vision to provide customers a more complete tool automation solution. "Hine Design is a recognized technology innovator in providing customized robotic wafer-handling solutions to the OEM market. They have unique capabilities to meet requirements for harsh environment applications -- a specific need for CMP CMP (cytidine monophosphate): see cytosine. (1) (CMP Media LLC, Manhasset, NY, www.cmp.com) Part of United Business Media, CMP is a leading integrated media company that offers a wide variety of publications and services in the information , copper processing and other tools," noted Moshier. "This strategic acquisition not only augments the hardware and software offerings we provide today, but positions Asyst to be the leader in tool automation now and in the future. With the addition of wafer handling robotics to our portfolio of minienvironment, isolation technology and software products, we now have all of the building blocks necessary to provide OEMs with `one stop' shopping for their automation-enabling tool front ends." Derek Hine, chairman and chief executive officer of Hine Design, noted, "We are extremely pleased about the opportunity to partner with Asyst. We share a close geographical proximity, internal culture, passion for excellence and complementary product lines. Asyst already has global resources dedicated to sales, service and applications engineering -- areas that are necessary for the next phase of growth. "In addition, we believe that our capability to serve our current customers and grow the customer base for our robotic products is a valuable benefit. Our combined capabilities will allow us to provide a complete, tool-centric automation solution that leverages Hine Design's significant design wins placing robotics on emerging new platforms." Moshier elaborated, "For cost and competitive reasons, automating the semiconductor manufacturing process is an imperative. The transition to a highly automated manufacturing methodology is a reality today, and will only accelerate as the move to 300 mm wafer size gains momentum. The material handling and software communications at the front end of the tool will provide the factory interface to enable fully automated manufacturing. "Combined with Asyst's existing core competencies in SMIF, minienvironment technology, WIP WIP Work In Progress WIP Work in Process WIP World Internet Project WIP Women in Prison (movie genre) WIP World Institute of Pain WIP Wash-In-Place WIP Women in Publishing WIP Work In Place WIP Wireless Internet Protocol tracking, lot validation, and factory automation software, the addition of Hine's tool robotics will optimize our ability to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. this growing market opportunity." Except for statements of historical fact, the statements in this press release are forward-looking. Such statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. These factors include, but are not limited to, general economic conditions, semiconductor industry cycles, risks associated with the acceptance of new products and product capabilities, and other factors more fully detailed in the company's most recent Forms 10-K annual report and 10-Q quarterly report on file with the SEC. About Hine Design: Hine Design Inc. is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. with headquarters in Sunnyvale specializing in the design and manufacture of wafer and flat panel display A thin display screen for computer and TV usage. The first flat panels appeared on laptop computers in the mid-1980s, and the LCD technology became the standard. Stand-alone LCD screens became available for desktop computers in the mid-1990s and exceeded sales of CRTs for the first time material handling solutions for original equipment manufacturers. Founded in 1983 by Hine, the company continues to pursue its vision of providing customers with the highest quality and maximum value in material handling systems. Hine Design is an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001 certified company and has received Lam Research Lam Research Corporation (NASDAQ: LRCX) engages in the design, manufacture, marketing, and service of semiconductor processing equipment used in the fabrication of integrated circuits. Corp.'s Supplier of the Year award for five consecutive years and GaSonics International's first Outstanding Supplier award. About Asyst: The pioneer of the Standard Mechanical InterFace (SMIF), Asyst Technologies, Inc. is the leading provider of automated material handling systems critical to seamless factory automation in the most advanced fabs worldwide. Asyst's comprehensive solutions, which include industry-leading 200 mm and 300 mm product offerings, result in greater fab profitability and productivity. Through innovative developments in the software and integration services area, Asyst Software, Inc., a wholly owned subsidiary, provides integrated circuit integrated circuit (IC), electronic circuit built on a semiconductor substrate, usually one of single-crystal silicon. The circuit, often called a chip, is packaged in a hermetically sealed case or a nonhermetic plastic capsule, with leads extending from it for (IC) manufacturers fully automated solutions addressing their most advanced manufacturing challenges. Founded in 1984, Asyst Technologies, Inc. is headquartered in Fremont, with facilities in Europe and the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. . Asyst Software, Inc., is located in San Jose. Asyst's homepage is located on the World Wide Web at http://www.asyst.com.
CONTACT: Asyst Technologies, Inc.
Laura Guerrant, 510/661-5000 (Financial Community)
Lori Cox, 510/661-5000 (Editorial/Media)
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