CARLBAD , JMAR Technologies Inc., a Carlsbad-based maker of laser systems used in the manufacture of semiconductors, said it signed a letter of intent to purchase Semiconductor Advanced Lithography, Inc. in an undisclosed cash and stock deal.
With the acquisition of the Burlington, Vt., firm, expected to close in about two months, JMAR will produce a higher grade, more affordable X-ray lithography system for semiconductor makers, said JMAR CEO Jack Martinez.
“SAL brings to JMAR a wealth of experience in the lithography engineering and technology arenas,” Martinez said. “By combining that talent with JMAR’s world-class advanced light technology, we intend to position JMAR/SAL as the world’s premier provider of high-performance, next-generation lithography systems for both the silicon and the compound semiconductor industries.”
The new systems that would be produced following the SAL acquisition would be sold between $6 million and $10 million each, depending on configuration and level of performance, JMAR said.
The market for semiconductor lithography equipment is several billion dollars annually, the company said.
Martinez said SAL, a spinoff from German firm Karl Suss, has annual revenues of about $5 million and 20 employees. It is the first acquisition for JMAR this year. The firm’s stock, traded on Nasdaq, jumped by about 30 percent the day following the announcement to close at $4. Its 52-week range is $12.50 to $2.50.
JMAR has about 150 employees including about 50 staffers at its Sorrento Valley facility and Carlsbad headquarters office. It also has operations in Orange and Los Angeles counties.