NEXX Systems Joins Tokyo Electron (TEL) as a Wholly Owned Subsidiary

BILLERICA, Mass., March 16, 2012 /PRNewswire/ -- Tokyo Electron Limited ("TEL") (Headquarters: Minato ward, Tokyo, Japan; President and CEO: Hiroshi Takenaka) is pleased to announce the completion of a definitive acquisition agreement with NEXX Systems Inc. ("NEXX") (Headquarters: Billerica, Massachusetts, USA; President and CEO: Tom Walsh).  Over the years, NEXX collaborated with TEL to study process technology in advanced packaging equipment for the development of 3D Thru Silicon Vias (TSV), giving both companies an opportunity to work together and setting the stage for TEL's acquisition of NEXX. 

Rapid growth of smart phones, tablet computers and emerging multifunctional mobile electronics is driving the semiconductor industry to produce ever-smaller, thinner, denser and lower-power products while simultaneously demanding increased complexity and functionality with every new introduction. The advent of Wafer Level Packaging (WLP) and 3D vertical integration (3D) technologies has provided semiconductor manufacturers with the tools to resolve manufacturing challenges presented by constant and consistent product innovation. Over the past ten years NEXX Systems gained international recognition as a leading supplier of WLP and 3D packaging equipment.  The acquisition of NEXX by TEL will expand TEL's position in advanced packaging to include electrochemical deposition (ECD) and physical vapor deposition (PVD) systems that have won awards for their outstanding performance, low cost of ownership, development flexibility and their extendibility to future applications in both back-end and front-end processes.

Hiroshi Takenaka, President and CEO of TEL, remarked: "Delivering superior performance for leading-edge semiconductor manufacturers requires significant innovation in wafer level packaging.  NEXX has demonstrated outstanding advantages in electrochemical deposition, a key differentiating technology in this market.  TEL's strategy to advance wafer level packaging will make use of technical synergies only possible between these two companies and will capitalize on both TEL and NEXX's core business strengths."

Tom Walsh, President and CEO of NEXX, added, "We are delighted to join forces with the world's quintessential master IC tool supplier.  We believe NEXX Systems' integration into the TEL family will benefit our stakeholders, our team and, most importantly, our customers and everyone with an interest in advanced electronics.  By joining the TEL group of companies, NEXX will accelerate our technology roadmaps and strengthen our competitive positions.  The TEL-NEXX combination will leverage complementary customer relationships: NEXX provides TEL with an immediate presence in the high growth, back-end packaging arena, while NEXX gains access to front-end growth markets and an unparalleled repository of cutting-edge intellectual property."

NEXX Systems brings exceptional technical expertise to flip chip and advanced packaging.  Our product lines provide the most efficient, yet affordable, systems of their kind: Apollo for multi-layer PVD deposition of metal thin films, and Stratus for high throughput electrodeposition of metals. 

SOURCE NEXX Systems Inc.