Needham & Company Reiterates Buy on Nova Measuring Instruments (NVMI) Following Announced Royalty Buyout Agreement

Nova Measuring Instruments (NVMI) Enters Royalty Buyout Agreement Israel's OCS

Nova Measuring Instruments (Nasdaq: NVMI) announced it has entered into a royalty buyout agreement ("Agreement") with the Office of the Chief Scientist ("OCS") in Israel.

The company previously participated in royalty-bearing research and development grants with the OCS, under which the company paid royalties at the rate of 3.5%-5% on sales of products developed with funds provided by the OCS. The company ceased its participation in royalty-bearing programs in December 2014. The contingent net royalty... More