Intevac to Acquire Oerlikon Magnetic Media Equipment Business

Intevac, Inc. has signed a definitive asset purchase agreement to acquire OC Oerlikon Balzers Ltd.’s magnetic media equipment business. Oerlikon, a Swiss high-technology company, is streamlining its portfolio and divesting itself of non-strategic assets.

Intevac’s acquisition of Oerlikon’s magnetic media equipment assets and IP enables Intevac to utilize Oerlikon’s developed technology and product solutions on Intevac systems. Support for Oerlikon’s installed base customers will be continued by Intevac’s global service organization.

“Our customers have undergone significant consolidation; and consequently, it is necessary for the supply base to consolidate as well,” commented Kevin Fairbairn, Intevac’s president and chief executive officer. “As the market leader, we are in the best position to support Oerlikon’s installed base and utilize elements of their technology on our systems to benefit the industry.”

“This transaction is a key part of our strategic initiative to focus on high-growth and clean energy markets,” said Dr. Uwe Krüger, Oerlikon’s chief executive officer. “Intevac has a long term commitment to this market and a successful product line that can utilize Oerlikon’s technologies and IP, making them the logical buyer for the business.”

The transaction, which is subject to certain closing conditions, is anticipated to close early in the third quarter.