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Crossing Automation Completes Acquisition of Asyst Technologies' Atmospheric Wafer Handling and Automation Assets

MOUNTAIN VIEW, Calif., Sept. 2 /PRNewswire/ -- Crossing Automation, Inc. (www.crossinginc.com), today announced that it has completed the legal process to acquire the assets of Asyst Technologies' atmospheric technologies and IP, including the sorter, EFEM (equipment front end module), load port and RFID products. Upon completion of the acquisition, Executive Chairman Robert MacKnight has been named president and CEO, replacing co-founder Jed Keller, who will remain at the company as executive vice president.

"This acquisition underscores our investors belief in our company, products and business model," stated Keller. "Their continued support provides a platform of financial stability that will allow us to drive the company forward and deliver exceptional customer value to OEMs and end-users alike. Bringing Bob in at the helm, with his vast experience and proven track record, puts us in the strongest position to capitalize on the market opportunities that exist as a result of this acquisition."

MacKnight has more than 25 years in management positions in the semiconductor and semiconductor equipment business. Most recently, MacKnight served as president and COO of Mattson technologies running operational activities, leading manufacturing and the product groups, and overseeing the company's global business operations.

"This acquisition is a significant result for Crossing, Asyst's employees and its customers," stated Crossing's new president and CEO, Bob MacKnight. "We gain critical capability and an instant customer base interested in all aspects of front- and back-end tool automation technology. The employees get a chance to thrive in a new environment. Most importantly, the customers have continuity of supply and can begin to focus on their ongoing needs with a strong, financially sound company that is focused on its customers and the technologies required for the success and profitability of our industry."

"We will continue with an accelerated integration process, which we are aiming to complete within the next 60-90 days," added MacKnight. "Moving forward we will focus on how to truly deliver both product sets as integrated 'building block' components that are fully customizable to meet customer's technical requirements while still reducing costs and time to market for the products. We look forward to working with our current and new customers to identify the best approaches to meet their requirements and support them for the long term."

ABOUT CROSSING AUTOMATION:

Crossing Automation delivers efficient, cost-effective front-end and back-end automation solutions and engineering support to high volume semiconductor equipment manufacturers. The company's unique approach enables its customers to develop process-specific wafer transport solutions for multi-platform strategies at a significantly lower cost than current approaches. Through its front-end and back-end automation solutions, Crossing achieves critical manufacturing flexibility for OEMs and IC manufacturers alike.

SOURCE Crossing Automation, Inc.