MANHASSET, NY -- FormFactor, Inc. has signed a merger agreement with Astria Semiconductor Holdings, Inc., the parent company of MicroProbe, Inc., to acquire MicroProbe for $100 million in cash and $16.8 million in stock.
"FormFactor and MicroProbe customers will benefit since the combined company will have the technology and resources to address semiconductor test requirements across the entire advanced probe card space." said Tom St. Dennis, CEO of FormFactor, in a statement.
"I'm very excited about the combination of MicroProbe and FormFactor," said Mike Slessor, Chief Executive Officer of MicroProbe, whowill become a senior vice president and executive officer of the combined companies.
FormFactor, Inc. is a leader provides advanced wafer probe cards, which are used by semiconductor manufacturers to electrically test ICs. MicroProbe which provides wafer test solutions to global semiconductor manufacturers is privately held with investors that include Flywheel Ventures, Intel Capital and Gemini Investors.
MicroProbe generated $87.3 million in revenue in its fiscal year ended December 31, 2011, growing 46 percent year-over-year and delivering a non-GAAP EBITDA margin of approximately 20 percent. MicroProbe and its affiliated companies have approximately 360 employees worldwide.
The merger is subject to customary conditions and is expected to close
in the first half of FormFactor's fiscal quarter ending December 29,