Advantest Completes Acquisition of Essai, Inc.
TOKYO, Japan - January 29, 2020 - Leading semiconductor test equipment supplier Advantest Corporation (TSE: 6857) (hereafter "the Company") has completed the acquisition of U.S. company Essai, Inc. (hereafter "Essai"), A leading supplier of semiconductor final-test, system-level test sockets and thermal control units. Essai had recent annual sales of approximately $100 million.
As the speed and pin count increases in semiconductor devices, reducing time to market and time to volume production has become increasingly important to manufacturers of semiconductors for high-end applications. Essai possesses excellent design capabilities and highly automated manufacturing capabilities that enable it to rapidly deliver products to customers, and its solutions are highly regarded in the industry. In combination with Advantest's final-test equipment and system-level testers, these resources will provide enhanced end-to-end test solutions in the form of test cells including sockets-accuracy assurance, further adding value to the Company's product portfolio.
Advantest President and CEO Yoshiaki Yoshida commented, "This acquisition is part of our medium- to long-term growth strategy to expand our test and measurement solutions across the continuously evolving semiconductor value chain. Essai's engineering capabilities, excellent customer base and first-rate technical team will complement our semiconductor test equipment business. We hope to accelerate the growth of Essai's business by leveraging our global customer base and production process expertise. I am confident that our customers will be very interested in the high-precision, end-to-end test solutions we will be able to offer as a result of adding Essai products to our portfolio. In addition, Essai's business is directly linked to our goal of strengthening our recurring business, so I believe that the acquisition also will contribute to diversifying and stabilizing our earnings base."
Essai, which is headquartered in Fremont, California, will become a wholly owned subsidiary of Advantest America, Inc., Advantest Corporation's U.S. subsidiary.
The financial advisors on this acquisition were GCA Advisors, LLC, and the legal advisors were Stoel Rives LLP and Skadden, Arps, Slate Meagher & Flom LLP.
Note: All information supplied in this release is correct at the time of publication, but may be subject to change without warning.