Tokyo Electron Announces Acquisition of Magnetic Solutions
Tokyo Electron Limited (TEL) today announced that its subsidiary Tokyo Electron Europe Limited has reached a definitive agreement to acquire Magnetic Solutions Ltd. (MSL; Headquarters: County Dublin, Ireland; CEO: Dave Hurley). MSL is engaged in the development, manufacture, and sale of magnetic annealing systems.
Magnetoresistive random-access memory (MRAM) is attracting increased attention as a key device for the future due to its advantages of fast writing speeds at low power consumption. During the MRAM manufacturing process, magnetic field annealing is important to determine device performance. MSL has many years of expertise and industry leading technologies in developing magnetic field annealing. By combining these with TEL’s productivity and miniaturization technologies for thermal processing systems, it will be possible to provide optimal systems for mass production of MRAM to customers.
Hiroshi Takenaka, President and CEO of TEL, commented: “TEL is developing systems to establish MRAM manufacturing technologies. We believe our integration with MSL for magnetic field annealing technologies will contribute to the further growth of our thermal processing system business.”
Dave Hurley, CEO of MSL, added: “MSL is excited to join the TEL family of companies. This transaction combines MSL’s industry leading position in magnetic annealing process systems with the TEL technology roadmap for manufacturing of spintronic based memory such as MRAM. We expect this transaction will benefit our customers, employees and shareholders; and support the industry vision for future logic and memory devices.”
The impact of this acquisition on TEL’s consolidated financial results is expected to be a minor one.
About Magnetic Solutions Ltd.
Magnetic Solutions (MSL), is the leading supplier of magnetic annealing systems and processes used in the development and manufacture of non-volatile memories such as MRAM and STT-RAM, read/write heads in high density disk drives, GMR and TMR sensors. MSL’s philosophy of committing to support the production, process development and R&D needs of our customers has resulted in a range of magnetic annealing systems optimized for all process steps, offering exceptional reliability, throughput and flexibility. For more information, please visit http://www.magnetic-solutions.com
Headquarters: Unit J, Furry Park, Santry, Dublin9, Ireland
Sales: approx. three million euro (Fiscal Year ended December 2011)
Employees: 19 (as of September 2012)
Public Relations Group, Tokyo Electron Ltd.