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17 Jun 2002
Veeco Instruments, the US manufacturer of metrology tools for the data storage and semiconductor industries, is to merge with both Ion Tech and OptiMag next month.
Ion Tech, of Colorado, US, is a supplier of ion beam deposition systems. The systems produce precise multi-layer optical filters for of fibre-optic telecommunications networks.
Veeco says that the join with Ion Tech adds expertise in telecommunications to its other core optical technologies of data storage and semiconductors.
Under the merger agreement, Ion Tech shareholders will receive approximately 1.5 million shares of Veeco common stock.
Veeco and OptiMag, of California, US, agreed to merge in July of this year and the boards of the two companies have now approved the merger. OptiMag was founded in 1998 and is a supplier of automated optical defect inspection and process control equipment for the thin film magnetic head industry. Terms of the merger were not disclosed.
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