Camtek Announces Acquisition of Printar Ltd.
Camtek will purchase all of Printar's technology, which provides a higher performance, environment-friendly and relatively low-cost process, in comparison with traditional printing methods.
By Graphic Arts Online Staff -- Graphic Arts Online, May 19, 2009
MIGDAL HA'EMEK, Israel--Camtek Ltd., today announced the acquisition of assets of Printar Ltd., an Israeli company.
Printar Ltd. is engaged in manufacturing, sale and marketing of direct digital material deposition systems and inks for the Printed Circuit Board ("PCB") industry, with two major fields of activity: Solder Mask, an epoxy layer selectively covering the PCB, while leaving the connecting pads uncovered ("SM") and Legend, applying the identification nomenclature on the PCB, commonly used in the PCB industry ("Legend"). Printar introduced its first Legend system six years ago and maintains an install base of more than 45 Legend systems.
Printar's technology provides a higher performances, one-step, environment-friendly and relatively low-cost process, in comparison with traditional printing methods. The technology can also be applicable in the future to various other applications in the field of electronic manufacturing.
Camtek will purchase from Printar all of Printar's assets, knowledge, technology and IP rights related to the acquired business.
In consideration for the purchase, Camtek will pay Printar a total sum of up to $2,500,000; an initial payment of $500,000 and an additional total amount of $2,000,000, subject to certain agreed conditions, and provided that such amount, if due, shall be paid no later than May 2011.
"We expect that the acquisition of Printar's assets will enable Camtek to offer its customers in the PCB industry with a broader range of products, while relying on existing operational, R&D and sales and marketing infrastructure", said Rafi Amit, Camtek's CEO.
"PCB manufacturers are constantly seeking to adopt new technologies that can improve performances in the manufacturing process, while reducing cycle times and saving costs. We believe that Printar's innovative digital technology meets these requirements and will enable Camtek to lead the market of digital material deposition", added Mr. Amit. "We intend to continue to provide services to Printar's current customers by leveraging our well-established customer support, service and sales infrastructure and to launch a new SM system, based on the acquired technology, later this year".
About Camtek Ltd.
With headquarters in Migdal Ha'Emek Israel, Camtek Ltd., designs, develops, manufactures, and markets automatic optical inspection systems and related products. Camtek's automatic inspection systems are used to enhance both production processes and yield for manufacturers in the printed circuit board industry, the high density interconnect substrate industry and the semiconductor manufacturing and packaging industry.
This press release is available at http://www.camtek.co.il.
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