Nova Completes Acquisition of ancosys

Rhea-AI Summary

Nova (Nasdaq: NVMI) has successfully acquired ancosys GmbH for approximately $90 million, paid in cash with a potential $10 million earnout based on performance. This acquisition aims to enhance Nova's offerings in chemical analysis and metrology solutions for semiconductor manufacturing. The company anticipates that this strategic move will be accretive on a non-GAAP basis within 12 months, expanding its market reach and product portfolio.

Positive

• Acquisition of ancosys adds advanced metrology capabilities, enhancing product offerings.
• Expected to be accretive on a non-GAAP basis within 12 months post-acquisition.
• Strategically expands available markets in semiconductor manufacturing.

Negative

• Risks associated with realizing benefits from the acquisition.
• Potential operational disruptions during integration.
• Dependence on performance-based earnout may introduce uncertainty.

REHOVOT, Israel, Jan. 25, 2022 /PRNewswire/ -- Nova (Nasdaq: NVMI) announced today that it completed the acquisition of ancosys GmbH, a privately held company headquartered in Germany. The transaction is valued at approximately $90 million, which is paid in cash, and includes a performance-based earnout of approximately $10 million. The Company expects the acquisition to be accretive on a non-GAAP basis within 12 months from closing.

ancosys is a leading provider of chemical analysis and metrology solutions for advanced semiconductor manufacturing. ancosys' automated analytical systems combine flexible architecture with industrial-grade capabilities and support front-end, back-end, and advanced packaging semiconductor manufacturing.

"We are very excited to have closed this strategic transaction that expands our available markets and allows us to offer advanced solutions to additional processes in semiconductor manufacturing," said Eitan Oppenhaim, President and Chief Executive Officer of Nova. "ancosys' complementary portfolio supports our strategic goal to deliver the most differentiated product offering, which is composed now of dimensional, materials and chemical metrology solutions. With this expanded product and technology offering, supported by the synergy in our markets, Nova is well-positioned to offer a comprehensive metrology portfolio for front-end, back-end, and advanced packaging customers." 

About Nova:

Nova is a leading innovator and key provider of metrology solutions for advanced process control used in semiconductor manufacturing. Nova delivers continuous innovation by providing 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, provides its customers with deep insight into the development and production of the most advanced semiconductor devices. Nova's unique capability to deliver innovative X-ray and optical solutions enables its customers to improve performance, enhance product 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 Nova Website Link - https://www.novami.com/

Nova is traded on Nasdaq & TASE, Nasdaq ticker symbol NVMI.

Forward looking statement:

This press release contains forward-looking statements within the meaning of safe harbor provisions of the Private Securities Litigation Reform Act of 1995 relating to future events or our future performance, such as statements regarding, but not limited to, anticipated benefits and growth opportunities relating to the acquisition, projections about our business and its future revenues, expenses and profitability. Forward-looking statements are based on management's current expectations and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied in those forward-looking statements. These risks and other factors include but are not limited to: the ability to recognize benefits of the acquisition; risks that the acquisition disrupts current plans and operations; and impact of the acquisition on relationships with customers, distributors and suppliers. Factors that may affect our results, performance, circumstances or achievements include, but are not limited to, the following: catastrophic events such as the outbreak of COVID-19; increased information technology security threats and sophisticated computer crime; foreign political and economic risks; changes in U.S. trade policies; inability to protect intellectual property; open source technology exposure; failure to compete effectively or to respond to the rapid technological changes; consolidation in our industry; difficulty in predicting the length and strength of any downturn or expansion period of the market we target; factors that adversely affect the pricing and demand for our product lines; dependency on a small number of large customers; dependency on a single manufacturing facility per product line; dependency on a limited number of suppliers; lengthy sales cycle and customer delays in orders; political, economic, and military instability in Israel; risks related to our convertible notes; currency fluctuations; and quarterly fluctuations in our operating results. We cannot guarantee future results, levels of activity, performance or achievements. The matters discussed in this press release also involve risks and uncertainties summarized under the heading "Risk Factors" in Nova's Annual Report on Form 20-F for the year ended December 31, 2020 filed with the Securities and Exchange Commission on March 1, 2021. These factors are updated from time to time through the filing of reports and registration statements with the Securities and Exchange Commission. Nova Ltd. does not assume any obligation to update the forward-looking information contained in this press release.

Company Contact:
Dror David, Chief Financial Officer
Tel: +972-73-229-5760
E-mail: investors@novami.com  
Nova Website Link - https://www.novami.com/

Investor Relations Contact:
Miri Segal
MS-IR LLC
Tel: +917-607-8654
E-mail: msegal@ms-ir.com

 

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SOURCE Nova Measuring Instruments Ltd.

FAQ

What is the value of Nova's acquisition of ancosys?

The acquisition is valued at approximately $90 million, with a performance-based earnout of $10 million.

When did Nova complete the acquisition of ancosys?

The acquisition was completed on January 25, 2022.

How will the acquisition of ancosys impact Nova's product offerings?

The acquisition enhances Nova's capabilities in chemical analysis and metrology, expanding its product portfolio for semiconductor manufacturing.

Is the acquisition of ancosys expected to be financially beneficial for Nova?

Yes, Nova expects the acquisition to be accretive on a non-GAAP basis within 12 months.