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Applied Precision Sells Div.
Dec 2007
ISSAQUAH, Wash., Dec. 19, 2007 -- Applied Precision announced today it is selling its semiconductor division to semiconductor test instrumentation business Rudolph Technologies Inc. of Flanders, N.J., and has canceled its plans to take its stock public through an initial public offering (IPO).

Applied Precision develops imaging, measurement and analysis systems for semiconductor wafer test, biomedical and biotechnology applications. The company said the sale of its semiconductor division, which provides wafer probe card test and analysis systems to semiconductor makers, will be through a combination of cash and stock from Rudolph Technologies. The purchase price was not disclosed.

"Rudolph's strengths in distribution and service provide an ideal complement to our products and customers," said Applied Precision CEO Ronald Seubert. "The acquisition by Rudolph combines two successful companies with complementary semiconductor products and technologies, and will accelerate Rudolph's efforts to be a more complete supplier of back-end equipment and software."

"We are very excited about bringing the Applied Precision semiconductor team into our organization," said Paul F. McLaughlin, chairman and CEO of Rudolph. "This acquisition combines two successful companies with complementary products and technologies, and will accelerate our efforts to be a more complete supplier of back-end equipment and software. In addition, this acquisition gives us the benefit of leveraging multiple synergies between the two organizations, and we expect this transaction to be accretive to earnings within the first year."

"We are looking forward to combining operations with the newly-formed Probe Card Test and Analysis Division, and we expect to build on the new division's number-one market share position in the probe card analytics market," said Nathan Little, executive vice president and general manager of the Inspection Business Unit.

Applied Precision said it will continue operating its Life Sciences business unit, which includes microscopy-based imaging systems, scanners and precision control products. Seubert will continue as CEO and Joseph Victor (formerly senior vice president, Life Sciences) will become president of the new organization.

The company also filed paperwork today with the US Securities and Exchange Commission to withdraw the IPO it initially filed for on June 30, 2006.

Rudolph has scheduled a conference call to discuss the acquisition tomorrow morning at 9:30.

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