REHOVOT, Israel -- Nova Measuring Instruments Ltd. announces the acquisition of ReVera Incorporated, a privately held company headquartered in Santa Clara, Calif. The acquisition is subject to customary closing conditions, and once closed expected to contribute $25-$30 million in annual revenue and be accretive on a non-GAAP basis within 12 months of closing.
Nova will acquire 100% of the equity of ReVera, on a cash free, debt free basis, for $46.5 million in cash from existing funds. Management currently expects the transaction to close by mid-April, 2015.
ReVera is a leading provider of materials metrology solutions for advanced semiconductor manufacturing. ReVera's products focus on process control of composition and film thickness for complex, multi-layer film stacks in the most critical process steps. The synergy between Nova's Optical CD technology and ReVera's unique X-Ray Photoelectron Spectroscopy (XPS) technology will deliver leading edge solutions for superior process control at the most advanced technology nodes.
"We are extremely excited about this strategic acquisition that sets the stage for us to accelerate our profitable growth while providing continued exceptional value to our customers," commented Eitan Oppenhaim, President and CEO of Nova. "This combination of complementary technologies creates the most innovative metrology portfolio in the industry focusing on the process control challenges evident at the most advanced technology nodes. ReVera's unique X-Ray technology is highly synergetic to Nova's Optical CD technology and will allow us to strengthen our market position with leading-edge customers in both the Memory and Logic segments."
"Nova's decision to acquire ReVera is a defining highlight in ReVera's evolution," stated Glyn Davies, ReVera's President and Chief Executive Officer. "We see this milestone as a great opportunity to combine unique technologies of the two companies to create a synergetic portfolio that best addresses current and future industry challenges. The strength of our complementary portfolio will broaden the available market and increase our ability to serve our customer base. We are excited and looking forward to joining Nova's team."