KLA-Tencor enters photovoltaic market with ICOS Vision Systems acquisition

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KLA-Tencor Corporation has made a friendly acquire all shares in ICOS Vision Systems for approximately $465.8 million. ICOS’s primary business is inspection equipment for semiconductor packaging but has been successful in the more cost-conscious solar wafer inspection market at key processing steps.

In December 2007, ICOS received its largest single order to date for solar cell inspection equipment valued at €2.3 million with a Taiwanese PV cell manufacturer. ICOS stated at the time that it expected revenues within the PV market to grow rapidly in 2008 and expected revenues of between €16-20 million.

Anton De Proft, ICOS’s President and Chief Executive Officer, said, “I believe that combining the strengths of KLA-Tencor and ICOS would significantly increase our growth potential and provide remarkable resources for advanced technical development of our existing products and technologies. Both companies have highly complementary market positions, with no overlap in product lines.”

ICOS had revenues of €57.5 million for the nine months ended September 30, 2007.

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