Onto Innovation Announces “Tuck-In” Acquisition of Lumina Instruments, Inc. and Lithography Business of Kulicke and Soffa

Expands Inspection Capabilities for Unpatterned Wafers and Panel Substrates

Enhances IP Portfolio and Lithography R&D Team to Accelerate Panel Lithography Development

Onto Innovation Announces “Tuck-In” Acquisition of Lumina Instruments, Inc. and Lithography Business of Kulicke and Soffa

Investor Relations:
Sidney Ho, +1 408.376.9163
sidney.ho@ontoinnovation.com

Onto Innovation Inc. (NYSE: ONTO), a global provider of process control and packaging lithography solutions to the semiconductor market, today announced that it has acquired Lumina Instruments, Inc. based in Milpitas, California.

“We are pleased to announce the 'tuck-in' of Lumina Instruments to strengthen Onto Innovation’s inspection portfolio through the addition of their highly differentiated laser scattering technology,” said Dr. Mike Rosa, chief marketing officer and senior vice president strategy, Onto Innovation. “This technology will expand our served addressable market by more than $250 million and includes opportunities in wafer and panel manufacturing and power semiconductors. With this technology, we can extend defect sensitivity from 750nm down to well below 100nm at industry leading throughput and it also complements our Firefly^® inspection system for panel packaging applications.”

Opportunities for inspection of surface and subsurface defects and contamination continue to grow as applications in panel-level packaging transition to glass. Simultaneously, silicon carbide (SiC) and gallium nitride (GaN) wafer-based power markets continue to grow and so do the process control challenges in their manufacturing as wafer sizes migrate from 150mm to 200mm and 200mm to 300mm, respectively.

“We were looking for the next stage of growth for our technologies in a range of application segments from advanced packaging to compound semi power. Onto Innovation impressed us with their strong established channels to markets combined with a focus on product synergies. In addition, their commitment to empowering small effective teams and vision for new growth areas like panel level processing was compelling to our team,” said Dr. Steven Meeks, former chief technology officer and president of Lumina Instruments.

Onto Innovation also acquired the lithography business from Kulicke and Soffa Industries, Inc., gaining 24 patents issued, eight additional patents pending, and more than 200 man-years of semiconductor lithography and wafer applications experience. Equipped with a strong set of hardware and software technologies, differentiating patents, and unique designs for metrology and lithography performance, this team will accelerate and expand the JetStep^® panel lithography roadmap.

Combined, the acquisitions are expected to generate up to $100 million in annual revenue in the next three years and be accretive to earnings within 12 months.

Other terms of the deal were not disclosed.

About Onto Innovation Inc.

Onto Innovation is a leader in process control, combining global scale with an expanded portfolio of leading-edge technologies that includes un-patterned wafer quality, 3D metrology spanning chip features from nanometer scale transistors to large die interconnects, macro defect inspection of wafers and packages, metal interconnect composition, factory analytics, and lithography for advanced semiconductor packaging.

Our breadth of offerings across the entire semiconductor value chain helps our customers solve their most difficult yield, device performance, quality, and reliability issues. Onto Innovation strives to optimize customers’ critical path of progress by making them smarter, faster and more efficient.

Headquartered in Wilmington, Massachusetts, Onto Innovation supports customers with a worldwide sales and service organization.

Additional information can be found at www.ontoinnovation.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Act”) which include statements relating to the anticipated benefits of the acquisitions; the anticipated impact of the acquisitions on Onto Innovation’s business and future financial and operating results; the expected amount and timing of the synergies from the acquisitions; Onto Innovation’s business momentum and future growth; the benefit to customers and the capabilities of Onto Innovation’s products and customer service; Onto Innovation’s ability to both deliver products and services consistent with our customers’ demands and expectations and strengthen its market position, Onto Innovation’s beliefs about market opportunities as well as other matters that are not purely historical data. Onto Innovation wishes to take advantage of the “safe harbor” provided for by the Act and cautions that actual results may differ materially from those projected as a result of various factors, including risks and uncertainties, many of which are beyond Onto Innovation’s control. Such factors include, but are not limited to, the Company’s ability to leverage its resources to improve its position in its core markets; its ability to weather difficult economic environments; its ability to open new market opportunities and target high-margin markets; the strength/weakness of the back-end and/or front-end semiconductor market segments; fluctuations in customer capital spending and any potential impact as a result of the novel coronavirus situation; the Company’s ability to effectively manage its supply chain and adequately source components from suppliers to meet customer demand; its ability to adequately protect its intellectual property rights and maintain data security; its ability to effectively maneuver global trade issues and changes in trade and export license policies; the Company’s ability to maintain relationships with its customers and manage appropriate levels of inventory to meet customer demands; and the Company’s ability to successfully integrate acquired businesses and technologies. Additional information and considerations regarding the risks faced by Onto Innovation are available in Onto Innovation’s Form 10-K report for the year ended December 30, 2023, and other filings with the Securities and Exchange Commission. As the forward-looking statements are based on Onto Innovation’s current expectations, the Company cannot guarantee any related future results, levels of activity, performance or achievements. Onto Innovation does not assume any obligation to update the forward-looking information contained in this press release, except as required by law.

Source: Onto Innovation Inc.
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