Electroglas finalizes Knights Technology acquisition.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.--(BUSINESS WIRE)--May 22, 1997--Electroglas, 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 :EGLS EGLS Eastside German Language School (Issaquah, WA) ), a market-leading supplier of automatic wafer probing and information management products to the global semiconductor industry and pioneer of fully integrated sort floor networked communications, today announced that it has finalized its acquisition of Sunnyvale, Calif.-based Knights Technology. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Electroglas Chief Executive Officer Curt Wozniak, the strategic acquisition broadens Electroglas' existing portfolio of technology solutions -- adding critical yield management software specifically designed to help global chipmakers improve yield, reduce cost and speed time to market for new semiconductor products. In accordance with the terms outlined in the definitive acquisition agreement (announced March 13, 1997) Knights became a wholly owned Electroglas subsidiary earlier this week. "We are now focusing on bringing this suite of advanced yield management software products to chipmakers worldwide to tap an increasing share of the growing yield management market," affirmed Wozniak. "At the same time, we plan 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>. the synergistic capabilities these products bring to our existing portfolio of sort/test floor software with the ultimate goal of creating the industry's first centralized yield enhancement system linking design, manufacturing and test to further boost the end value of test data." 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 semiconductor industry cycles, risks associated with the acceptance of new products and product capabilities, and other factors detailed in the Company's reports on Forms 10-K and 10-Q, and annual report to shareholders. About Electroglas: Founded in 1960, Electroglas, Inc. is a world-leading supplier of the automated wafer-probing products and information management products that semiconductor manufacturers rely on to sort and classify 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. . The company's products position semiconductor devices that are still in wafer form under contact probes to facilitate accurate, rapid, reliable testing, and manage information collected during the testing process. Electroglas' common stock is traded on the Nasdaq National Market under the trading symbol Trading symbol See: Ticker symbol EGLS. Electroglas' home page on the World Wide Web is located at http://www.electroglas.com CONTACT: Electroglas, Inc. Yolanda Ruiz, 408/727-6500 or MCA MCA in full Music Corporation of America Entertainment conglomerate. It was founded in Chicago in 1924 by Jules Stein as a talent agency. In the 1960s it bought Decca Records and Universal Pictures, and today it produces films, music, and television shows. Inc., Santa Clara Vincent Mayeda, 415/968-8900 |
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