WOODBURY, N.Y., Nov. 19 -- Veeco Instruments Inc., a developer of products for nanoscale applications in the semiconductor, data storage, telecommunications and scientific research markets, announced yesterday it has purchased Advanced Imaging Inc., a manufacturer of precision bar lapping equipment for advanced data storage thin-film magnetic heads, for $60 million in cash.
Veeco said Advanced Imaging's technology complements its line of ion beam process equipment and metrology solutions, and that the combination will make it the only provider of end-to-end slider fab solutions for data storage. The transaction also includes a three-year earn-out feature that may require payment of up to an additional $9 million, Veeco said.
Advanced Imaging, a private company based in Camarillo, Calif., has 105 employees.
For more information, visit: www.veeco.com