Aug. 10 at 12:51 PM
$ONTO Onto Innovation completes investment in Rigaku
Onto Innovation (ONTO) announced the closing of its previously announced acquisition of a 27% minority equity stake in Rigaku Holdings Corporation from Atom Investment, L.P., an affiliate of Carlyle (CG), for 113,078,356,600 billion yen, or approximately
$720M. The investment deepens the strategic collaboration between the two companies, first announced in April, to advance X-ray technologies for emerging applications in semiconductor manufacturing process control. Onto Innovation will account for the investment under the fair value option method and will not consolidate Rigaku's financial results. Onto Innovation will nominate a director to serve on Rigaku's board.