By Connor Hart
FormFactor is partnering with private-equity firm MBK Partners to buy FICT, a Japanese company that provides technologies to the semiconductor and high-performance computing industries.
The Livermore, Calif., provider of test and measurement technologies said Wednesday that it will invest $60 million, acquiring a 20% stake in FICT, as well as a seat on its board.
The deal is expected to close this quarter and has received the required regulatory and third-party approvals, and isn't expected to have a material effect on FormFactor's operations, the company said.
Chief Executive Mike Slessor said the transaction builds on the companies' existing long-term relationship, adding it will provide a platform for the development of test and packaging consumables.
"The semiconductor industry's rapidly accelerating adoption of advanced packaging requires increased investment and stronger collaboration across the test and assembly supply chain," he said.
FormFactor announced the deal as it issued a downbeat outlook for the first quarter and said profit and revenue fell in the fourth quarter, sending shares 22% lower, to $31.89, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 05, 2025 17:41 ET (22:41 GMT)
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