Keywords
Citation
(2001), "Orbotech acquires certain technology and know-how from Brown & Sharpe", Circuit World, Vol. 27 No. 4. https://doi.org/10.1108/cw.2001.21727dab.013
Publisher
:Emerald Group Publishing Limited
Copyright © 2001, MCB UP Limited
Orbotech acquires certain technology and know-how from Brown & Sharpe
Orbotech acquires certain technology and know-how from Brown & Sharpe
Keywords: Orbotech
Orbotech has reached an agreement with Brown & Sharpe Manufacturing Company to purchase the subsidiaries, Brown & Sharpe Surface Inspection Systems, Inc. and Brown & Sharpe Surface Inspection Systems Ltd and all of the inspection-related technology, patents and know-how owned by the subsidiaries.
In addition to the acquisition of this technology and know-how, the agreement also involves the transfer, to the employ of the company, of approximately 25 people previously operating as a multi-disciplinary, self-contained, research and development unit of Brown & Sharpe known as "SIS", who are presently located in Kfar Sava, Israel and Morgan Hill, California.
The purchase price payable by the company in the transaction is approximately $2.6 million, which will be paid in cash. The goodwill arising from the acquisition, which the company estimates will be approximately $2.3 million, will be amortized over a period of five years. The current activity being acquired is expected to add approximately $0.5 million to the company's total research and development expenses for the first quarter of 2001.