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US approves Chinese acquisition of US company
China Plus, January 19, 2018
U.S. authorities have cleared the acquisition of a U.S. semiconductor manufacturer by a Chinese counterpart for the first time since Donald Trump assumed office.
It is rare to see acquisitions by Chinese semiconductor equipment producers being approved by the U.S. government.
"As far as we can see, this was the first time that the Committee on Foreign Investment in the United States (CFIUS) has approved such an acquisition since Trump assumed office," said Fang Xue, partner at Gibson Dunn & Crutcher LLP.
A lawyer from a subsidiary of China's NAURA Technology Group Co., Ltd, confirmed on January 17 that its acquisition of Akrion Systems LLC (Akrion), an American semiconductor equipment manufacturer, has been completed, according to tech.sina.com.cn.
The transaction, valued at 15 million U.S. dollars, was much smaller than transaction standard, but still faced scrutiny from CFIUS. CFIUS is responsible for evaluating transactions that might jeopardize national security.
***
NAURA Akrion Inc. acquired Akrion’s surface preparation business
Allentown, PA. & BEIJING, January 16, 2018 - Beijing NAURA Microelectronics Equipment Co.,Ltd. (“NAURA”) and Akrion Systems LLC today jointly announced that the previously announced acquisition by NAURA has been completed. As a result of the closing of the transaction, NAURA Akrion Inc. (“NAURA Akrion”), a wholly owned subsidiary of NAURA in the United States, acquired Akrion’s surface preparation business.
“We are very pleased to have completed the transaction,” said Mr. Michael Ioannou, NAURA Akrion CEO. “Enhanced by the strong strategic and financial support of our new investors, the company’s future is brighter than ever. We are excited to continue building and growing NAURA Akrion into a global leader in wet-processing systems as part of NAURA.”
“The successful completion of the transaction will enhance NAURA’s cleaning equipment product line rapidly, and allow it to cover the integrated circuit chip process including Pre Film Deposition Clean, PR Strip, Backside Clean, Wafer Reclaim, Post Etch Clean, SiN/Oxide Etch,Post Metal Deposition and Al pad clean, and other Wet technologies. This is a strong upgrade of NAURA’s surface preparation business and will boost NAURA’s overall market competitiveness.” Commented by Mr. Jinrong Zhao, President & CEO of NAURA. “Upon completion of the transaction, the new entity NAURA Akrion will continue to focus on and promote the existing line of 8-12 inch batch and single wafer systems designed for integrated circuit chip manufacturing, silicon wafer fabrication, MEMS and advanced packaging. NAURA Akrion will invest resources in R&D on new application development, new process development and new product development. It will also stay customer-focused and continue to support existing and future customers worldwide with expanded product and solutions.
Acuity Advisors LLP, a UK based M&A technology advisory firm, served as the financial advisor and Perkins Coie served as the legal advisor to Akrion Systems LLC. Needham & Company served as the financial advisor, Gibson, Dunn & Crutcher LLP served as the US legal advisor to NAURA.
About NAURA Akrion, Inc.
NAURA Akrion is a leading supplier of advanced surface preparation systems and processes used in the manufacture of solar, semiconductor and related devices. The custom solutions we develop are used in numerous steps during the manufacturing process to remove contaminants from the surface of the silicon wafers on such products as MEMS, flat panel displays, logic devices, analog devices, photovoltaic/solar cells, Flash memory and DRAM.
About Beijing NAURA Microelectronics Equipment Co.,Ltd.
Beijing NAURA Microelectronics Equipment Co.,Ltd is a world leading supplier of manufacturing process systems and related services to the semiconductor industry. The company supplies Oxidation/Diffusion System, Wet Process System, Dry Etching System, PVD, LPCVD/PECVD, Mass Flow Meter/Controller, and Heating/Annealing Furnace.
http://www.akrionsystems.com/naura-akrion-inc-acquired-akrions-surface-preparation-business/
@Martian2
@F-22Raptor , SP12?
China Plus, January 19, 2018
U.S. authorities have cleared the acquisition of a U.S. semiconductor manufacturer by a Chinese counterpart for the first time since Donald Trump assumed office.
It is rare to see acquisitions by Chinese semiconductor equipment producers being approved by the U.S. government.
"As far as we can see, this was the first time that the Committee on Foreign Investment in the United States (CFIUS) has approved such an acquisition since Trump assumed office," said Fang Xue, partner at Gibson Dunn & Crutcher LLP.
A lawyer from a subsidiary of China's NAURA Technology Group Co., Ltd, confirmed on January 17 that its acquisition of Akrion Systems LLC (Akrion), an American semiconductor equipment manufacturer, has been completed, according to tech.sina.com.cn.
The transaction, valued at 15 million U.S. dollars, was much smaller than transaction standard, but still faced scrutiny from CFIUS. CFIUS is responsible for evaluating transactions that might jeopardize national security.
***
NAURA Akrion Inc. acquired Akrion’s surface preparation business
Allentown, PA. & BEIJING, January 16, 2018 - Beijing NAURA Microelectronics Equipment Co.,Ltd. (“NAURA”) and Akrion Systems LLC today jointly announced that the previously announced acquisition by NAURA has been completed. As a result of the closing of the transaction, NAURA Akrion Inc. (“NAURA Akrion”), a wholly owned subsidiary of NAURA in the United States, acquired Akrion’s surface preparation business.
“We are very pleased to have completed the transaction,” said Mr. Michael Ioannou, NAURA Akrion CEO. “Enhanced by the strong strategic and financial support of our new investors, the company’s future is brighter than ever. We are excited to continue building and growing NAURA Akrion into a global leader in wet-processing systems as part of NAURA.”
“The successful completion of the transaction will enhance NAURA’s cleaning equipment product line rapidly, and allow it to cover the integrated circuit chip process including Pre Film Deposition Clean, PR Strip, Backside Clean, Wafer Reclaim, Post Etch Clean, SiN/Oxide Etch,Post Metal Deposition and Al pad clean, and other Wet technologies. This is a strong upgrade of NAURA’s surface preparation business and will boost NAURA’s overall market competitiveness.” Commented by Mr. Jinrong Zhao, President & CEO of NAURA. “Upon completion of the transaction, the new entity NAURA Akrion will continue to focus on and promote the existing line of 8-12 inch batch and single wafer systems designed for integrated circuit chip manufacturing, silicon wafer fabrication, MEMS and advanced packaging. NAURA Akrion will invest resources in R&D on new application development, new process development and new product development. It will also stay customer-focused and continue to support existing and future customers worldwide with expanded product and solutions.
Acuity Advisors LLP, a UK based M&A technology advisory firm, served as the financial advisor and Perkins Coie served as the legal advisor to Akrion Systems LLC. Needham & Company served as the financial advisor, Gibson, Dunn & Crutcher LLP served as the US legal advisor to NAURA.
About NAURA Akrion, Inc.
NAURA Akrion is a leading supplier of advanced surface preparation systems and processes used in the manufacture of solar, semiconductor and related devices. The custom solutions we develop are used in numerous steps during the manufacturing process to remove contaminants from the surface of the silicon wafers on such products as MEMS, flat panel displays, logic devices, analog devices, photovoltaic/solar cells, Flash memory and DRAM.
About Beijing NAURA Microelectronics Equipment Co.,Ltd.
Beijing NAURA Microelectronics Equipment Co.,Ltd is a world leading supplier of manufacturing process systems and related services to the semiconductor industry. The company supplies Oxidation/Diffusion System, Wet Process System, Dry Etching System, PVD, LPCVD/PECVD, Mass Flow Meter/Controller, and Heating/Annealing Furnace.
http://www.akrionsystems.com/naura-akrion-inc-acquired-akrions-surface-preparation-business/
@Martian2
@F-22Raptor , SP12?
