3M Acquires Credence Technologies Inc.; Continues to Build Static Control Business
ST. PAUL, Minn.-(BUSINESS WIRE)-Sept. 8, 2006-3M announced today that it has acquired Credence Technologies Inc., a Soquel, Calif.-based provider of instruments and high-end monitoring equipment for electrostatic discharge control and electromagnetic compliance. Terms of the transaction were not disclosed.
Static control represents a key growth opportunity for 3M's electronics platform. Credence Technologies' products help manufacturers manage electrostatic discharge and electromagnetic emission issues in the design and production of components such as semiconductors, hard disc drives and flat panel displays. This acquisition allows 3M to expand its presence in the semiconductor, hard disc drive, and flat panel display industries and further build its business in Asia and Europe, two of the fastest growing areas for static control.
"Demand for static control solutions is expected to increase as smaller, more complex components require greater protection against electrostatic discharge," said Frank Little, division vice president, 3M Electronic Solutions Division. "Together 3M and Credence Technologies will offer a powerful lineup of products, technology, and industry experience that will help customers increase productivity and product reliability."
The addition of Credence Technologies builds on 3M's previously announced acquisition of SCC Products Inc. and JJ Converting LLC, producers of flexible static control packaging and workstation products for electronic devices. 3M's Electronic Solutions Division provides products and solutions to meet the electronic industry's challenges of protecting electronic devices from electrostatic discharge throughout production, assembly, installation and transportation processes.
Credence Technologies employs approximately 12 people at its operations in Soquel, near Santa Cruz.
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