Photronics, Inc. (PLAB) Acquires Assets and Certain IP from Infinite Graphics
- Wall Street falls with financials, other post-election gainers
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave cables to WikiLeaks
- After-Hours Stock Movers 01/17: (SHLO) Higher; (GIMO) (AFAM) (CSX) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Photronics, Inc. (NASDAQ: PLAB) today announced they have acquired manufacturing assets and certain intellectual property of Infinite Graphics Incorporated (IGI). Terms of the agreement were not disclosed.
"These assets will allow us to expand our manufacturing capability to serve new markets, such as large area masks for IC, and more efficiently align our existing mainstream manufacturing capacity to meet customer demand," said Peter Kirlin, chief executive officer. "From a financial standpoint, these assets should provide modest incremental sales and the ability to increase efficiency as we integrate them into our operations. We are also acquiring some intellectual property for emerging technologies targeting advanced packaging and related markets. With our global reach and proven ability to bring leading-edge products to market, we intend to accelerate the product development cycle for these technologies."
Photronics estimates the large area mask market segment to be approximately $40 million per year and highly fragmented. With these assets, Photronics plans to leverage its global presence and customer relationships to grow the business. The sector is projected to grow over the next several years due to advancements in wafer level packaging. Large area masks are a key enabler to manufacture advanced packaging solutions in the semiconductor industry.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Bats Global Market (BATS) Stockholders Approve Merger Agreement with CBOE (CBOE)
- TopBuild (BLD) Announces Acquisition of Midwest Fireproofing
- Scaramucci's SkyBridge to Sell Majority Stake to RON Transatlantic and HNA Capital
Create E-mail Alert Related CategoriesCorporate News, Management Comments, Mergers and Acquisitions
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!