Friday, August 14, 2009

Aviza Technology Sells Assets To Sumitomo

Scotts Valley-based Aviza Technology, a developer of semiconductor equipment, announced late Thursday that the firm has entered into a definitive agreement to sell certain of its assets to Sumitomo Precision Products Co., Ltd. Aviza said the deal covers "substantially all" of its assets related to the its system, service, parts, spares and upgrade businesses for batch thermal products and technologies, atmospheric-pressure chemical vapor deposition products and technologies, physical vapor deposition products and technologies, chemical vapor deposition products and technologies, and plasma etch products and technologies, as well as its service, parts, spares and upgrade business for atomic layer deposition products and technologies. The deal is worth $15M in cash, a recourse promissory note worth $10M maturing in 18 months, plus a non-recourse promissory note worth $31.5M, also maturing in 18 months. The firm said it does not include its headquarters, property, or manufacturing facilities in Scotts Valley.