Cerprobe Corp. announces acquisition of Silicon Valley Test & Repair Inc.TEMPE, Ariz.--(BUSINESS WIRE)--Jan. 16, 1997--Cerprobe Corp. (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 NM:CRPB CRPB Conflict Resolution and Peace Building ) Thursday announced that it has acquired privately owned Silicon Valley Test & Repair Inc. ("SVTR SVTR Sun Valley Technical Repair (Morgan Hill, CA) "). The transaction, valued at approximately $8.5 million, will be treated as a purchase for accounting purposes. The maximum purchase price, including contingencies, consists of $3.5 million in cash and 350,000 shares of Cerprobe common stock. Cerprobe intends to take a one-time charge related to the acquisition of an undetermined amount for purchased in-process research and development in the first quarter ending March 31, 1997. Founded in 1987, SVTR refurbishes and upgrades wafer probing equipment used in the semiconductor industry. The Santa Clara Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.-based company had sales of approximately $14 million for calendar year 1996. SVTR's major customers include IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , AT&T/Lucent, National Semiconductor, Intel, and Harris Semiconductor. This is the second acquisition Cerprobe has completed in the last 30 days. On Dec. 27, 1996, Cerprobe announced its acquisition of CompuRoute Inc., a Dallas-based designer and fabricator of complex, multilayer printed circuit boards used in the testing of semiconductors. Commenting on the SVTR acquisition, C. Zane Close, Cerprobe president and chief executive officer, said, "The acquisition of SVTR is a strategically important step toward Cerprobe's goal of providing our worldwide customers with complete solutions for semiconductor test integration. "We believe that combining SVTR's technical knowledge and ability to upgrade wafer probers with Cerprobe's expanding line of testing products will clearly differentiate us from our competitors and significantly benefit our customers." Cerprobe develops and manufactures products for the high-performance testing of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. and microelectronic components and markets its products worldwide to semiconductor manufacturers. The Arizona-based company operates domestic manufacturing facilities in Arizona, California and Texas. Cerprobe also operates international subsidiaries: Cerprobe Europe Ltd. in Scotland and Cerprobe Asia in Singapore and Taiwan. -0- "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements in this release regarding the financial and strategic benefits anticipated to accrue to Cerprobe from its acquisition of Silicon Valley Test & Repair Inc. are forward-looking statements and actual results may differ materially from those anticipated for a number of reasons. There can be no assurance, for example, that the costs of integrating the acquired assets will not exceed those estimated, or that the combined companies will perform as expected. The future financial performance of Cerprobe will depend upon a number of factors, many of which are beyond its control, such as increased competition, changes in demand for its products, and fluctuations in the market for semiconductors. Additional risk factors and cautionary statements are contained in Cerprobe's filings with the Securities and Exchange Commission. CONTACT: Cerprobe Corp., Tempe Randal L. Buness, 602/967-7885 or Silverman Heller Associates, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Eugene G. Heller, 310/208-2550 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion