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Camtek Ltd (NASDAQ:CAMT) has entered into an agreement to acquire FormFactor Inc's (NASDAQ:FORM) FRT Metrology (FRT) business for $100 million in cash.
FRT, headquartered in Bergisch Gladbach, Germany, supplies high-precision metrology solutions for the Advanced Packaging and Silicon Carbide markets.
The acquisition is expected to leverage Camtek's and FRT's technologies of advanced packaging and silicon carbide that require new inspection and metrology steps in the semiconductor manufacturing processes.
Camtek, with the addition of FRT's hybrid multi-sensor SurfaceSens technology, will be able to provide customers with more comprehensive solutions for inspection and metrology.
"We expect this acquisition to solidify Camtek's leading market position and contribute over $30 million to the annual revenues in 2024 and be accretive within 12 months following the acquisition," said Camtek CEO Rafi Amit.
The transaction is expected to close in Q4 2023, subject to the satisfaction of customary closing conditions.
Camtek held $506.3 million in cash and equivalents as of June 30, 2023.
Price Action: CAMT shares are trading higher by 2.97% at $57.85 on the last check Monday.
