Monday, August 3, 2009

Crossing Automation Acquires Asyst Assets With Venture Backing

Mountain View-based Crossing Automation announced today that it has entered into a definitive agreement to acquire several pieces of Asyst Technologies' business out of bankruptcy. The firm was supported by investment bankers Tallwood Venture Capital and Intel Capital in the acquisition, but did not disclose details of any related funding from those firms. The firm said it acquired Asyst Technologies' atmospheric technologies and IP including the sorter, EFEM (equipment front end module) and RFID products. Financial details of the buy was not disclosed. Asyst said it had sold its fab automation assets to Crossing Automation Friday.