- Expands applications' reach to backend semiconductor and
Wafer Level Packaging, including Advanced Packaging.
- All-cash transaction valued at approximately $60 million.
- Acquisition expected to be accretive on non-GAAP net earnings
basis within 12 months of closing.
REHOVOT, Israel, Nov. 27,
2024 /PRNewswire/ -- Nova (Nasdaq:
NVMI) announced today that it has entered into a
definitive agreement to acquire Sentronics Metrology
GmbH, a privately held company headquartered in Mannheim Germany,
in an all-cash transaction valued at approximately
$60 million.
The acquisition is subject to customary closing and regulatory
conditions and approvals and is expected to close within the first
quarter of 2025. The Company expects the acquisition to be
accretive on a non-GAAP basis within 12 months of closing.
Sentronics Metrology GmbH is a global provider of wafer
metrology tools for backend semiconductor fabrication. The company
develops flexible and modular metrology tools equipped with
multiple metrology sensors for a variety of critical dimension
applications, including thickness, roughness, and topography.
The addition of Sentronics' modular dimensional metrology
technology to Nova's dimensional metrology portfolio will enable
Nova to diversify its offering in the rapidly growing field of
advanced wafer level packaging and specialty devices. Sentronics
portfolio expands Nova's presence into a broader range of
applications and wafer sizes and types beyond 300mm silicon wafers.
Along with Nova's Optical CD Stand Alone and Integrated Metrology,
Nova can offer its customers a complete portfolio for critical
applications in both backend and frontend fabrications processes.
The Company believes these applications represent a rapidly growing
market, estimated at $200 million per
annum.
"We are very excited with this strategic acquisition that
further extends our reach into fast-growing markets," commented
Gaby Waisman, President and CEO of
Nova. "Acquiring Sentronics Metrology aligns with our long-term
strategy to expand our total addressable market by broadening our
portfolio of key technologies, enabling us to support a wider range
of process control applications. This acquisition creates
significant synergies, enhancing our offerings to better meet the
evolving needs of our customers."
About Nova
Nova is a leading innovator and key provider of material,
optical and chemical metrology solutions for advanced process
control in semiconductor manufacturing. Nova delivers continuous
innovation by providing 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,
provides its customers with deep insight into developing and
producing the most advanced semiconductor devices. Nova's unique
capability to deliver innovative solutions enables its customers to
improve performance, enhance product yields and accelerate time to
market. Nova acts as a partner to semiconductor manufacturers from
its offices worldwide. Additional information may be found on
Nova's website link - https://www.novami.com/.
Nova is traded on the Nasdaq and TASE, Nasdaq ticker symbol
NVMI.
Forward-Looking Statements
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, but not limited
to, anticipated growth opportunities and projections about our
business and its future revenues, expenses and profitability and
regarding the future closing of Sentronics' acquisition.
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 differ
materially from any future results, levels of activity, performance
or achievements expressed or implied in those forward-looking
statements. Factors that may affect our results, performance,
circumstances or achievements include, but are not limited to, the
following: increased information technology security threats
and sophisticated computer crime; foreign political and economic
risks including supply-chain difficulties; regulations that could
restrict our operations such as economic sanctions and export
restrictions; changes in U.S. trade policies; indirect effects of
the Russia – Ukraine conflict; market instability including
inflation and recessionary pressures; risks related to doing
business with China; catastrophic
events; inability to protect our intellectual property; open source
technology exposure, including risks related to artificial
intelligence; failure to compete effectively or to respond to rapid
technological changes; consolidation in our industry; difficulty in
predicting the length and strength of any downturn or expansion
period of the market we target; factors that adversely affect the
pricing and demand for our product lines; dependency on a small
number of large customers; dependency on a single manufacturing
facility per product line; dependency on a limited number of
suppliers; difficulty in integrating current or future
acquisitions; lengthy sales cycle and customer delays in orders;
risks related to conditions in Israel, including related to the war against
Hamas and other terrorist organizations; risks related to our
convertible notes; currency fluctuations; and quarterly
fluctuations in our operating results. 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, 2023, filed with the Securities and
Exchange Commission on February 20,
2024. These factors are updated from time to time through
the filing of reports and registration statements with the
Securities and Exchange Commission. Nova Ltd. does not assume any
obligation to update the forward-looking information contained in
this press release.
Logo -
https://mma.prnewswire.com/media/1446151/Nova_Logo.jpg
Company Contact:
Guy
Kizner, Chief Financial Officer
Tel: +972-73-229-5760
E-mail - investors@novami.com
Nova website link - https://www.novami.com/
Investor Relations Contact:
Miri Segal MS-IR LLC
Tel: +917-607-8654
E-mail - msegal@ms-ir.com
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SOURCE Nova
