San Jose, CA--March 21, 1997--Silicon Valley Group Inc. (SVG; San Jose, CA) announced that it has purchased from IBM Corp. for $3 million their entire six percent minority interest position in SVG Lithography Systems Inc. (SVGL).
In a separate transaction, SVG satisfied in full its royalty payment obligation of $38 million to IBM in exchange for $23 million of SVGL products, 489,296 shares of SVG's Common Stock valued at $10 million, and $5 million of cash. The transaction will result in a pre-tax charge taken against the company's earnings for the quarter ended March 31, 1997 of approximately $33 million. The company expects to amortize the remainder of the charge over future periods.
Silicon Valley Group
San Jose, CA
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