SAN FRANCISCO—Tegal Corp. Wednesday (Feb. 9) said it sold its deep reactive ion etch (DRIE) portfolio and related assets to SPP Process Technology Systems Ltd. (SPTS) for about $2.1 million.
SPTS agreed to pay Tegal $1.6 million in cash and assume about $500,000 worth of short-term debt, Tegal (Petaluma, Calif.) said.
The deal includes the transfer to SPTS of the capital stock and operations of Tegal France SAS, a wholly-owned Tegal subsidiary formed following the acquisition in September 2008 by Tegal of the DRIE assets of Alcatel Micro Machining Systems, Tegal said.
Tegal sold to SPTS the Tegal 200, 110, 3200 and 4200 series DRIE products, along with its Compact and Pluto development assets, intellectual property and process know-how, the company said.
SPTS will provide continued global support to existing Tegal DRIE customers, and will integrate these technologies into its broad range of product offerings in etch, deposition and thermal technologies which it offers to its customers worldwide, according to the company.
Thomas Mika, Tegal's president and CEO, said through a statement that the sale represents another major step in Tegal's transformation. Tegal recently announced it would form a company focused on the the development and operation of large scale photovoltaic-based solar utilities.
"The sale of the DRIE assets to SPTS ensures a smooth transition of our technology, team members, active joint development projects in France, and our commitments to customers globally," Mika said.