FormFactor, Inc. Completes Acquisition of MicroProbe Inc.
October 17, 2012
LIVERMORE, Calif. — October 17, 2012 — FormFactor, Inc. (Nasdaq: FORM) today announced that it has completed its acquisition of Astria Semiconductor Holdings, Inc. and its wholly owned subsidiary MicroProbe Inc., a leading provider of advanced wafer test solutions to non-memory semiconductor manufacturers. The acquisition creates a leader in advanced wafer probe cards across both the memory and SOC segments and significantly expands the company’s addressable markets.
“This transaction is an important strategic step for FormFactor,” said Carl Everett, Chairman of FormFactor’s Board of Directors. “The combination of two wafer test industry leaders well positions us to address complex and demanding semiconductor test requirements and customer roadmaps.”
“I welcome Mike Slessor and the MicroProbe team to FormFactor,” said Tom St. Dennis, CEO of FormFactor. “Our world-class teams in the memory and SOC segments enable us to deliver an unparalleled product portfolio and service and support across an expanded customer base”.
MicroProbe will operate as a separate business unit within FormFactor. Mike Slessor, CEO of MicroProbe, will continue to lead the MicroProbe business unit and Jarek Kister, CTO of MicroProbe, will continue to direct product and technology development at the MicroProbe business unit.
Needham & Company acted as exclusive financial advisor and Davis Polk & Wardwell LLP as legal counsel to FormFactor. Morgan Stanley acted as exclusive financial advisor and DLA Piper LLP as legal counsel to Astria Semiconductor Holdings.