FEI agreed to acquire Micrion, a Peabody, Massachusetts, supplier of focused-ion-beam (FIB) systems, in a deal announced in 1998. Micrion shareholders were to receive one FEI share plus $6 in cash for each Micrion share. FEI later reported that the acquisition closed in August 1999.
What did FEI acquire from Micrion?
Micrion made focused-ion-beam systems—specialized equipment used in semiconductor and related applications. At the time of the announcement, the company was based in Peabody, Massachusetts, and had about 200 employees, according to EE Times’ 1998 report.
FEI said the combination would broaden its product line and improve customer service. It planned to fold Micrion into its operations as a Peabody-based subsidiary.
How much did FEI agree to pay?
The announced consideration was one FEI common share and $6 in cash for every Micrion share. That is the per-share exchange stated in the 1998 announcement; the cited report does not give a total transaction value.
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1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsWhen was the agreement signed, and when did it close?
The merger agreement was dated December 3, 1998, and named FEI Company, Micrion Corporation, and MC Acquisition Corporation, FEI’s wholly owned Oregon subsidiary. It proposed a statutory merger under Oregon and Massachusetts corporate law. FEI’s 2000 annual report records the acquisition as closing in August 1999.
What changed after the acquisition?
FEI incorporated Micrion into its operations and reported several accounting and research-and-development effects in its 2000 annual report:
Rank #2
- Professional stereo microscope with boom stand has long working distance to enable users to perform work or manipulate large items, including circuit boards and dental appliances
- Trinocular viewing head with pair of 10x super-widefield eyepieces, adjustable interpupillary distance, fixed 45-degree vertical inclination to reduce eye and neck strain, and 360-degree rotation capability to enable sharing
- 0.7x-4.5x zoom objective provides continuous zoom magnification and longer focal length for inspecting large-scale specimens, and a 0.5x Barlow lens extends the working distance
- Removable rheostat-controlled 54-bulb LED ring light provides intensity control and bright, cool light for working with temperature-sensitive or live specimens
- Single boom arm with 8" vertical working distance and adjustable 16" boom arm enables users to adjust the microscope on the X- and Y-axes
- Purchase accounting recognized $16.3 million in acquired existing technology and $24.1 million in goodwill.
- FEI recorded a one-time $14.1 million charge for acquired in-process research and development. At the acquisition-date evaluation, the four significant projects had not been proven technologically feasible and had generated no revenue. They covered resolution and automation improvements for semiconductor products, automation for data-storage products, and lithography photomask repair.
- The acquisition added $2.3 million in R&D costs in 1999 and $6.9 million in 2000.
These figures describe FEI’s reported accounting and R&D effects; they are not the deal’s total purchase price.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happened to Micrion?
FEI’s stated plan was to integrate Micrion into its business as a Peabody-based subsidiary, and the acquisition closed in August 1999. The cited sources establish that the company and its FIB business joined FEI, but do not specify how long the Micrion name, site, or subsidiary structure continued afterward.
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- 10X-20X-30X-60X stereo magnification settings
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- Professional stereo microscope with boom stand has long working distance to enable users to perform work or manipulate large items, including circuit boards and dental appliances
- Trinocular viewing head with pair of 10x super-widefield eyepieces, adjustable interpupillary distance, fixed 45-degree vertical inclination to reduce eye and neck strain, and 360-degree rotation capability to enable sharing
- 0.7x-4.5x zoom objective provides continuous zoom magnification and longer focal length for inspecting large-scale specimens, a 0.5x Barlow lens extends the working distance, and a 2.0x Barlow lens extends the magnification range
- Ambient lighting illuminates the specimen, eliminating the need for power or batteries
- Single boom arm with 8" vertical working distance and adjustable 16" boom arm enables users to adjust the microscope on the X- and Y-axes
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