Semitool sells software business to Brooks Automation
Of this amount, $2.75 million was paid in Brooks' common stock. As a result of the transaction, Semitool will recognize a non-recurring after-tax gain of approximately $19 million in the current quarter.
SEMY, a leading provider of advanced process and equipment control software (APC) systems to semiconductor fabs, was acquired by Semitool in 1996. "We gained considerable value from SEMY's products, as we integrated them into several of our most advanced tools," said Ray Thompson, Semitool's president and chief executive officer, "but in today's environment we believe it is better to direct all of our resources toward Semitool's core technologies."
Commenting further, Thompson said, "We believe the semiconductor industry's move toward electrochemical deposition for IC interconnect and advanced packaging applications, smaller geometries and 300 millimeter wafers are excellent opportunities for our core technologies in electrochemical deposition and wafer surface preparation. We are focused on growing market share, and the benefits of this transaction are available to support our expected growth."
In the fiscal year 2000, ended September 30, 2000, SEMY Engineering's revenues were $19.4 million including intercompany sales of $1.8 million and its net income contribution was $1.9 million or $.06 per diluted share. Including intercompany sales of $418,000, SEMY Engineering's contribution to fiscal 2001 first quarter revenues was $6.4 million, resulting in a net income contribution of $1.0 million or $0.03 per diluted share.
The SEMY Engineering integrated information and process control systems are currently available on the Semitool automated platforms, such as the Spectrum and Paragon. As part of this transaction, SEMY will continue to supply its products to Semitool under an OEM agreement.
About Semitool, Inc.
Semitool is a worldwide leader in the design, development, manufacture, and support of high performance, single wafer and batch wet chemical processing equipment for use in the fabrication of semiconductor devices. The Company's primary families of tools include electrochemical deposition systems for electroplating copper, gold, solder and other metals and silicon wafer surface preparation systems for cleaning, stripping, and etching. The Company's equipment is utilized in semiconductor fabrication front-end and back-end processes, including advanced packaging applications. Headquartered in Kalispell, Montana, Semitool maintains sales and support centers in the United States, Europe and Asia. The Company's stock trades on the Nasdaq National Market under the symbol SMTL. Semitool maintains a website at www.semitool.com.
About Brooks Automation
Brooks Automation, Inc. is the leading global supplier of OEM tool automation and factory management software for the semiconductor, data storage and flat panel display manufacturing industries. As an established market leader in hardware and software automation, Brooks continues to pioneer "Best-in-Class" technologies that outperform their competitors - from vacuum and atmospheric robots, cluster tool platforms and modules, ultra-clean mini-environments for isolating processing equipment and wafers - to factory and tool automation software and integration services. Both OEM and fab customers leverage Brooks Automation's products and environments. The Company has ISO 9001 certification, is headquartered in Chelmsford, Mass. and has direct operations in the United States, Canada, Europe, Japan, Korea, Malaysia, Singapore and Taiwan. Brooks' website is www.brooks.com.
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