INNOViON and Core Announce Business Combination
INNOViON Corporation and Core Systems, Inc. announced today an agreement in principle for INNOViON to acquire Core's Specialty and Production ion implant service divisions. Under the terms of the agreement, INNOViON will acquire certain assets from Core and will transfer the implant service business to their San Jose facility. Core will maintain their rights and interests in KingCore Technology, their joint venture in Wuxi, China.
Walter Wriggins, CEO of Core, stated “In light of the global economy, the demand for outsourced ion implantation has not been sufficient to support two top-tier implant service foundries. This agreement is a positive move for both companies, allowing Core to focus on its rapidly expanding implanter disk refurbishment business.”
Gary Holyoak, CEO of INNOViON, stated, “We are excited to announce this acquisition and look forward to a quick completion and integration of the business. Our broad range of implant capabilities will be further enhanced with the addition of tools from Core. We anticipate a healthy and productive 2013, continuing to grow our business while satisfying both our customers and shareholders alike.”
Both companies will work together to ensure a smooth transfer and ongoing support for their customers.
INNOViON is the leading global provider of foundry ion implantation support and service to the microelectronic industry. Formed in 2001, INNOViON represents a combination of two industry leaders (Implant Center, Inc. and Ion Implant Services, Inc.) with over 35 years in this specialized technology segment. INNOViON's production facility is located in San Jose, CA, a short distance from the San Jose International Airport. INNOViON operates 7 days per week and is equipped with a broad range of tooling supporting both standard and specialty implants in diameter ranges of 2” through 200mm. INNOViON also offers a full range of Fab Service support, including ion source and subassembly rebuilds and miscellaneous parts cleaning for all implanter models. INNOViON is a privately-held corporation and is headquartered at 2121 Zanker Road, San Jose, California. More information about INNOViON is available on line at www.innovioncorp.com
Founded in 1990, Core Systems is a leading worldwide supplier of ion implant technology, products and services to the semiconductor manufacturing community, These products and services include Ion Implanter Disk Refurbishment, PVD Silicon Coating and Krytek Source Conditioners. The division headquarters is located in Sunnyvale CA, in the heart of Silicon Valley with unique access to customers, technology suppliers, materials and technical resources. More information about Core is available on line at www.coresystems.com