Notice Regarding the Acquisition of Shares of US-based Ferran Technology, Inc. and Subsequent Subsidiarization
This is to notify that the Sumitomo Heavy Industries Group (hereinafter referred to as “SHI”) has acquired the shares of Ferran Technology, Inc. (hereinafter referred to as “Ferran Technology”; Head Office: California, USA), a developer of vacuum gauges. As a result of this acquisition, Ferran Technology becomes a subsidiary of SHI.
1. Purpose of the Share Acquisition
Ferran Technology is a venture firm that focuses on the development of high performance vacuum gauges that are used in semiconductor manufacturing equipment. Ferran Technology possesses technology that is able to differentiate itself from technologies used in other conventional products available in the marketplace.
Vacuum gauges are essential measurements devices used in the semiconductor manufacturing process that check pressure levels within the vacuum chamber. In addition to the cryo-pump that SHI already manufactures and distributes, the vacuum gauge is one of the other key components that realizes and measures the vacuum environment inside the chamber of the semiconductor manufacturing device.
Utilizing the technology that Ferran Technology boasts, SHI will move forward with the development of a commercial product and enter into the vacuum gauge business. SHI plans to acquire market share by using the production/quality set-up and sales network cultivated from its cryo-pump business and expand its participation in business fields relating to the vacuum equipment market. Through all of this, SHI aims to tie all of this into further growth for its semiconductor-related business.
2. Profile of Subsidiary to be Transferred
- (1) Name
Ferran Technology, Inc.
11558 Sorrento Valley Rd, Suite 1, San Diego, CA 92121 USA
- Name and Title of Representative
David J. Ferran, President and CEO
- Business Operations
Manufacturer and distributor of vacuum gauges and other related products
- Paid-Up Capital
- Date of Establishment
June 29, 2015
- Total Number of Employees
3. Acquisition Cost
JPY1,000million (approximate amount)
4. Key Timeline of Transaction
- Date that Memorandum of Understanding was Finalized
October 25, 2016
- Commencement Date of Operation
October 25, 2016
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