FormFactor has written a big fat cheque for German based supplier FRT.
FRT is apparently one of the fastest growing metrology suppliers in the semiconductor industry, with revenues expanding at more than 75 percent compounded annual growth rate since its inception in 2016 to 2018. This acquisition strengthens FormFactor’s leadership in test and measurement by expanding its addressable market into 3D surface metrology and extending the optical applications scope of its existing Engineering Systems business.
FormFactor CEO Mike Slessor said: “The acquisition of FRT adds to FormFactor’s diversified portfolios of essential semiconductor test and measurement products. It’s one of FormFactor’s strategic priorities to expand our leadership in advanced packaging and MEMS applications, and we are excited to welcome Dr. Thomas Fries and the FRT team to the FormFactor family.”
Thomas Fries, CEO of FRT, said it was an important time for the company’s partners who could look forward to leveraging FormFactor’s well established global infrastructure and customer relationships to further accelerate our planned growth, while continuing to execute our new product development roadmap.”
FormFactor paid €19.7 million in cash for the acquisition. Up to €10.3 million of additional cash consideration may be payable subject to the performance of the acquired business in 2020. This acquisition is expected to be immediately accretive to earnings on a non-GAAP basis. Straightward Holding GmbH acted as the M&A advisor to FRT GmbH.
