Oerlikon Divests Magnetic IP

Switzerland-based high technology company Oerlikon Balzers Ltd. is selling its magnetic media equipment assets and intellectual property (IP), the buyer, Intevac, announced last week. Financial terms were not disclosed.

"This transaction is a key part of our strategic initiative to focus on high-growth and clean energy markets," said Uwe Krüger, PhD, Oerlikon CEO. "Intevac has a long-term commitment to this market and a successful product line that can utilize Oerlikon's technologies and IP, making them the logical buyer for the business."

Santa Clara-based Intevac's Equipment business supplies magnetic media sputtering equipment to the hard disk drive industry and etch technology systems to the semiconductor industry. The company's Imaging Instrumentation business develops imaging products, vision systems and miniature Raman instruments for military, industrial, physical science and life science applications.

The transaction, which is subject to certain closing conditions, is expected to close early in the third quarter.

For more information, visit: www.intevac.com