M&A Deal Summary

Credence Systems Acquires NPTest

On June 1, 2004, Credence Systems acquired semiconductors company NPTest from Francisco Partners for 600M USD

Acquisition Highlights
  • This is Credence Systems’ 1st transaction in the Semiconductors sector.
  • This is Credence Systems’ largest (disclosed) transaction.
  • This is Credence Systems’ 1st transaction in the United States.
  • This is Credence Systems’ 1st transaction in California.

M&A Deal Summary

Date 2004-06-01
Target NPTest
Sector Semiconductors
Buyer(s) Credence Systems
Sellers(s) Francisco Partners
Deal Type Merger
Deal Value 600M USD

Target

NPTest

San Jose, California, United States
NPTest, Inc. design, development, and manufacture of semiconductor test and diagnostic systems. These devices range from microprocessors, graphics processors, chipsets, and devices for data transfer and communication applications to DVDs and set-top boxes used in consumer electronics.

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Buyer(S) 1

Buyer

Credence Systems

Milpitas, California, United States

Category Company
Founded 1978
Sector Test/Measurement Equipment
DESCRIPTION

Credence Systems Corporation provides advanced test and diagnostic systems as well as engineering services to the semiconductor industry. These devices range from microprocessors, graphics processors, chipsets, devices for high-speed data transfer and communication applications to those used in increasingly complex consumer electronics such as DVDs and set-top boxes.


DEAL STATS #
Overall 1 of 1
Sector (Semiconductors) 1 of 1
Type (Merger) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2004) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Francisco Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1999
PE ASSETS 45.0B USD
Size Mega
Type Sector Focused
DESCRIPTION
Francisco Partners' headquarters in San Francisco, California.
Francisco Partners' headquarters in San Francisco, California.

Francisco Partners is a private equity firm focused exclusively on investments in technology and technology-enabled services. Specific areas of interest include semiconductors, capital equipment, electronics components, systems and manufacturing, IT services and business process outsourcing, communications, security and enterprise applications, and infrastructure software. Prospective investment situations include divisional buyouts, growth equity financings, acquisitions of private companies, sponsored mergers and acquisitions, and take-privates. Francisco Partners looks for opportunities where it can commit a minimum of $100 million per investment. Francisco Partners was formed in 1999 and is based in San Francisco, California.


DEAL STATS #
Overall 3 of 81
Sector (Semiconductors) 2 of 4
Type (Merger) 1 of 2
State (California) 2 of 19
Country (United States) 3 of 67
Year (2004) 3 of 3
Size (of disclosed) 13 of 26
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-04-23 Mitel

Ottawa, Ontario, Canada

Mitel is a telecommunications company providing voice and unified communications services, with market-leading positions in unified communications-as-a-service (“UCaaS”) and customer-owned solutions. Mitel was founded in 1973 and is based in Ottawa, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-21 OfficeTiger

New York, New York, United States

OfficeTiger is a global professional support services firm offering industry-focused, judgment-based services that support core functions of its clients in real time. One of the largest diversified BPO solution providers, OfficeTiger has four main lines of business, including Research & Analytics, Premedia, Financial Management and Transaction Processing Services. OfficeTiger creates, processes, and distributes mission-critical information for the world's largest investment banks, diversified financial institutions, legal firms, publishing houses, retail chains and Fortune 500 companies.

Buy -