Strasbaugh Completes Strategic Agreement with Lam Research Corp.

Fremont, Calif., Jan. 15 -- Lam Research Corp., supplier of front-end wafer processing equipment and services to the semiconductor manufacturing industry, has completed a strategic agreement with Strasbaugh of San Luis Obispo, Calif. According to the agreement, Lam will buy a portfolio of chemical mechanical planarization (CMP) intellectual rights from Strasbaugh, as well as draw on Strasbaugh's engineering capabilities in a variety of projects. Lam receives a minority interest in Strasbaugh and gains a seat on the company's board of directors. Lam's expenditures under the agreement total $14.0 million. The transaction augments Strasbaugh's capacity to develop its precision polishing and grinding systems and to support its installed base within the telecommunications, optical, and semiconductor industries, Strasbaugh said. Strasbaugh is a provider of CMP, wafer polishing and backgrinding systems and solutions.