Ceradyne announced its agreement to acquire SemEquip on July 9, 2008, and completed the purchase on August 11, 2008. The deal brought semiconductor cluster-ion implantation technology into Ceradyne through an approximately $25 million cash payment at closing, plus revenue-based contingent payments of up to $100 million over 15 years.
When did Ceradyne acquire SemEquip?
Ceradyne announced the definitive agreement on July 9, 2008. The acquisition closed on August 11, 2008, through Ceradyne’s wholly owned SEI Acquisition Co. SemEquip then became a wholly owned Ceradyne subsidiary. Ceradyne announcement; Ceradyne closing announcement.
How much did Ceradyne pay?
The announced terms called for approximately $25 million in cash at closing and contingent payments of up to $100 million over the next 15 years, tied to SemEquip’s revenue. The contingent amount was a maximum, not an additional fixed payment.
Ceradyne later recorded a $51.348 million total purchase price in its acquisition accounting. That accounting figure is not interchangeable with the approximately $25 million headline closing payment: it included $23.315 million in cash consideration paid to SemEquip stockholders, $26.166 million in accrued purchase consideration, and $1.867 million in direct transaction fees and expenses. Ceradyne acquisition accounting.
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| Figure | What it represents |
|---|---|
| Approximately $25 million | Cash payment at closing in the 2008 announced deal terms. |
| Up to $100 million | Maximum contingent consideration tied to SemEquip revenue over 15 years, under the 2008 announced terms. |
| $51.348 million | Total purchase price recorded in Ceradyne’s acquisition accounting, including accrued consideration and transaction expenses. |
What did SemEquip make?
Based in North Billerica, Massachusetts, SemEquip developed cluster-ion implantation subsystems and advanced ion-source materials for semiconductor manufacturing, particularly for logic and memory chips. Ceradyne described its systems as supporting cluster-beam ion implantation at low cost and high throughput. Ceradyne’s closing announcement.
Ceradyne’s later annual report said SemEquip developed and marketed cluster molecules such as B18H22 for boron ion implantation. The report also attributed approximately 107 issued patents and pending patent applications to the business. Ceradyne annual report.
Rank #2
- French cylindrical semiconductor fuse
- Ferrule mount up to 100A for design versatility
- Very low I2t for improved semiconductor protection
- aR characteristic for semiconductor short- circuit protection
- Superior cycling ability for longer life on difficult cyclic loading applications
What is cluster-ion implantation?
Ion implantation is a semiconductor manufacturing process that introduces selected ions into a material to alter its electrical properties. In cluster-ion implantation, the implanted particles are molecular clusters rather than only individual ions. SemEquip’s cluster molecules, including B18H22 for boron implantation, and the associated subsystems and ion-source materials were intended for use in making integrated circuits. Ceradyne’s cited description emphasizes the process’s potential for low-cost, high-throughput manufacturing; it does not establish a specific production result or performance figure for a particular chipmaker.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why did Ceradyne buy SemEquip?
Ceradyne presented the acquisition as vertical integration: adding semiconductor process technology and materials capabilities alongside its existing materials business. President of North American Operations David Reed said the purchase followed a model of manufacturing final products using Ceradyne-produced raw materials. Ceradyne also described the acquisition as a way to broaden its participation in future semiconductor markets. Ceradyne’s closing announcement; Ceradyne annual report.
Quick Recap
Best Value
- French cylindrical semiconductor fuse
- Ferrule mount up to 100A for design versatility
- Very low I2t for improved semiconductor protection
- aR characteristic for semiconductor short- circuit protection
- Superior cycling ability for longer life on difficult cyclic loading applications
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- Product Name : Fuse;Model : RO15 (RT18 RT14)
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- Note: Please shut down power before your replacement. Check your original size of fuse before buying: body diameter, body length, rated current, rated voltage.
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