Tuesday, May 6, 2008

Aquest, Gores Pull Asyst Acquisition Proposal

Sunnyvale-based Aquest Systems Corp and private equity firm The Gores Group LLC said today that they have withdrawn a proposal to acquire Asyst Technologies, a provider of equipment to the semiconductor industry. Gores and Aquest--which was founded by Dr. Mihir Parikh, a former founder of Asyst--said that the offer was withdrawn after Asyst repeatedly refused to enter into discussions with the firm. Aquest Systems also develops automation technology for the semiconductor industry, and is backed by Menlo Ventures.