SANTA CLARA, Calif., March 12, 2015 /PRNewswire/ -- ReVera Incorporated, the materials metrology company, announces that it will be acquired by Nova Measuring Instruments Ltd. (NASDAQ; NVMI) subject to the terms of a definitive agreement signed today. Nova is a leading innovator and a key provider of optical metrology solutions for advanced process control used in semiconductor manufacturing. ReVera will be acquired for $46.5 Million in an all cash deal with an expected close date in mid-April, 2015.
ReVera is a leading provider of materials metrology solutions for advanced semiconductor manufacturing. ReVera's products focus on process control of composition and film thickness for complex, multi-layer film stacks in the most critical semiconductor manufacturing steps. Now producing its fourth generation of X-ray based products, ReVera was incorporated in 2004 as a venture backed spin-out from the analytical laboratory equipment maker, Physical Electronics. ReVera created a new category of production metrology tools and, from its inception, focused on solving challenging metrology and process control problems not addressable by traditional technologies. Its products are widely used in critical process steps forming transistors and memory cells at leading edge foundry and memory makers.
"Nova's decision to acquire ReVera is a validation of the market space we have created. This result is a defining milestone in ReVera's evolution. Nova and ReVera share the characteristics of passion, tenacity and dedication. With our complimentary product portfolios and strong customer relationships, we believe the combined groups will provide enormous value to our customers and shareholders. We are looking forward to joining Nova's team," stated Glyn Davies, ReVera's President and Chief Executive Officer.
About Nova: Nova Measuring Instrument Ltd. delivers continuous innovation by providing advanced optical metrology solutions for the semiconductor manufacturing industry. Deployed with the world's largest integrated-circuit manufacturers, Nova's products deliver state-of-the-art, high-performance metrology solutions for effective process control throughout the semiconductor fabrication lifecycle. Nova's product portfolio, which combines high-precision hardware and cutting-edge software, supports the development and production of the most advanced devices in today's high-end semiconductor market. Nova's technical innovation and market leadership enable customers to improve process performance, enhance products' yields and accelerate time to market. Nova acts as a partner to semiconductor manufacturers from its offices around the world. Additional information may be found at www.novameasuring.com.
Nova is traded on the NASDAQ & TASE under the symbol NVMI
ReVera Incorporated, the materials metrology company, is a leader in high-k metal gate (HKMG) production metrology solutions for advanced semiconductor processing. Its products are used globally by device manufacturers to measure, monitor and control critical HKMG materials properties in high-volume production, and to enable rapid development and control of complex, new processes. ReVera systems set the standard for HKMG metrology applications including gate dielectrics, work function metals and metal gates, and are backed by a global network of support partners and an experienced staff of applications engineering, field service, sales and logistics personnel. Visit www.ReVera.com for more information.
This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding trends, demand for our products, expected deliveries, transaction, expected revenues, operating results, earnings and profitability. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward looking statements. These risks and other factors include but are not limited to: our dependency on two product lines; our dependency on a small number of large customers and small number of suppliers; the highly cyclical nature of the markets we target; our inability to reduce spending during a slowdown in the semiconductor industry; our ability to respond effectively on a timely basis to rapid technological changes; our dependency on PEM; risks related to exclusivity obligations and non-limited liability that may be included in our commercial agreements and arrangements; our ability to retain our competitive position despite the ongoing consolidation in our industry; risks related to our dependence on a single manufacturing facility; risks related to the extremely competitive market we are operation in; risks related to changes in our order backlog; risks related to the financial, political and environmental instabilities in Asia; risks related to our intellectual property; new product offerings from our competitors; unanticipated manufacturing or supply problems; changes in tax requirements; changes in customer demand for our products; risks related to currency fluctuations and risks related to our operations in Israel. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in Nova's Annual Report on Form 20-F for the year ended December 31, 2013 filed with the Securities and Exchange Commission on February 28, 2014. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Measuring Instruments Ltd. does not assume any obligation to update the forward-looking information contained in this press release.
SOURCE ReVera Incorporated