Nova Completes the Acquisition of ReVera
Acquisition adds advanced X-Ray solutions to the portfolio and strengthens Nova's strategic position in the advanced process control market
REHOVOT, Israel – Nova Measuring Instruments Ltd. (Nasdaq: NVMI), a leading innovator and a key provider of optical metrology solutions for advanced process control used in semiconductor manufacturing, today announced it has closed the previously announced acquisition of ReVera Incorporated, a profitable privately held company headquartered in Santa Clara, Calif. The acquisition allows Nova to offer the most innovative and unique metrology portfolio, which combines Optical CD and XPS solutions, to address customers' technology and productivity challenges in the most advanced nodes.
Nova acquired 100% of the equity of ReVera for $46.5 million in cash from existing funds, on a cash free, debt free basis. The deal is expected to contribute annual revenues of $25-$30 million USD and be accretive on a non-GAAP basis within 12 months.
"We are looking forward to launching our newly expanded company and forging a strong relationship with ReVera to offer the most advanced metrology portfolio in the marketplace," commented Eitan Oppenhaim, President and CEO of Nova. "We believe that this acquisition enables Nova to accelerate growth already in 2015, leveraging our complementary technologies to deliver better solutions to address the increasing challenges in the most advanced nodes. Our diversified portfolio, along with greater scale, provide us a broader access and creates better value for our customers."
About Nova: Nova Measuring Instrument Ltd. delivers continuous innovation by providing advanced optical metrology solutions for the semiconductor manufacturing industry. Deployed with the world's largest integrated-circuit manufacturers, Nova's products deliver 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, supports the development and production of the most advanced devices in today's high-end semiconductor market. Nova's technical innovation and market leadership enable customers to improve process performance, enhance products' yields and accelerate time to market. Nova acts as a partner to semiconductor manufacturers from its offices around the world. Additional information may be found at http://www.novameasuring.com.
Nova is traded on the NASDAQ TASE under the symbol NVMI.
Dror David, Chief Financial Officer
Nova Measuring Instruments Ltd.
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Nova Measuring Instruments Ltd