Contact Information: Investor Contact: Mike Magaro Investor Relations (925) 290-4321 Trade Press Contact: David Viera Corporate Communications (925) 290-4681
FormFactor Acquires Technology Assets of Electroglas, Inc.
| Source: FormFactor
LIVERMORE, CA--(Marketwire - October 6, 2009) - FormFactor, Inc. (NASDAQ : FORM ) today
announced that the Delaware Bankruptcy Court has approved FormFactor's
acquisition of intellectual property rights and certain technology assets
of Electroglas, Inc. related to precision motion control automation. The
purchase provides FormFactor with IP and physical assets the company will
use in its manufacturing operations. The acquisition does not include
physical assets and technology solely used in the Electroglas prober
business, which are expected to be purchased by a third party as part of a
separate auction process. The assets acquired by FormFactor were made
available at auction as part of activities related to Electroglas'
bankruptcy proceedings.
"The technologies we are acquiring are the product of significant
investment in the research and development of high accuracy motion
control," said Mario Ruscev, chief executive officer of FormFactor. "With
these new capabilities, we will continue to improve our manufacturing
efficiency and provide our customers with even higher quality end
products."
In February 2009, Electroglas and FormFactor entered into an agreement for
Electroglas to supply tools and technology to FormFactor. In July 2009,
Electroglas announced it had filed for Chapter 11 bankruptcy protection.
Forward-Looking Statements
Statements in this press release that are not strictly historical in nature
are forward-looking statements within the meaning of the federal securities
laws, including statements regarding our products and solutions, demand for
our products and future growth. These forward-looking statements are based
on current information and expectations that are inherently subject to
change and involve a number of risks and uncertainties. Actual events or
results might differ materially from those in any forward-looking statement
due to various factors, including, but not limited to: the Company's
ability to close successfully the Electroglas asset purchase, to implement
the Electroglas assets into the Company's manufacturing processes, to
improve its manufacturing efficiency and deliver to customers even higher
quality end products. Additional information concerning factors that could
cause actual events or results to differ materially from those in any
forward-looking statement is contained in the company's Form 10-K for the
fiscal year ended December 27, 2008 and Form 10-Q for the fiscal quarter
ended June 27, 2009 as filed with the Securities and Exchange Commission
("SEC"), and subsequent SEC filings. Copies of the company's SEC filings
are available at http://investors.formfactor.com/edgar.cfm. The company
assumes no obligation to update the information in this press release, to
revise any forward-looking statements or to update the reasons actual
results could differ materially from those anticipated in forward-looking
statements.
About FormFactor
Founded in 1993, FormFactor, Inc. (NASDAQ : FORM ) is the leader in advanced
wafer probe cards, which are used by semiconductor manufacturers to
electrically test ICs. The company's wafer sort, burn-in and device
performance testing products move IC testing upstream from post-packaging
to the wafer level, enabling semiconductor manufacturers to lower their
overall production costs, improve yields, and bring next-generation devices
to market. FormFactor is headquartered in Livermore, California with
operations in Europe, Asia and North America. For more information, visit
the company's web site at www.formfactor.com.
FormFactor is a registered trademark of FormFactor, Inc.