EXHIBIT 99.1
CONTACT: Laura Guerrant (Financial Community) AGENCY: Sheryl Moreno
Asyst Technologies, Inc. MCA, Inc.
510/661-5000 650/968-8900
510/661-5160 (fax) 650/968-8990 (fax)
Lori Cox (Editorial/Media)
Asyst Technologies, Inc.
510/661-5000
510/661-5166 (fax)
ASYST TECHNOLOGIES, INC. TO ACQUIRE HINE DESIGN INC.
FREMONT, Calif., July 6, 1998--Asyst Technologies, Inc. (Nasdaq:ASYT), the
leading supplier of manufacturing automation and Standard Mechanical InterFace
(SMIF) isolation to the global semiconductor industry, announced today that it
has agreed to acquire Hine Design Inc. (Sunnyvale, Calif.), a leading supplier
of wafer-handling robots for semiconductor process tools. With this
acquisition, Asyst expands its product offerings for semiconductor factory
automation, where Asyst is a leading supplier of material handling solutions
to both OEM tool suppliers and chip makers.
The transaction will be structured as a purchase of stock for approximately
$12 million in cash and the assumption of certain debt liabilities of $12
million. Other terms of the deal were not disclosed. When the transaction is
completed, Hine Design will become a wholly owned subsidiary of Asyst. The
transaction is subject to certain conditions, including the expiration or
early termination of the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act and other customary regulatory and legal approvals, and is
expected to be finalized in the second quarter of fiscal 1999.
Asyst's President and Chief Operating Officer Terry Moshier noted that the
Hine Design acquisition is the latest development in Asyst's strategic vision
to provide customers a more complete tool automation solution. "Hine Design is
a recognized technology innovator in providing customized robotic wafer-
handling solutions to the OEM market. They have unique capabilities to meet
requirements for harsh environment applications - a specific need for CMP,
copper processing and other tools," noted Moshier. "This strategic acquisition
not only augments the hardware and software offerings we provide today, but
positions Asyst to be the leader in tool automation now and in the future.
With the addition of wafer handling robotics to our portfolio of
minienvironment, isolation technology and software products, we now have all
of the building blocks necessary to provide OEMs with `one stop' shopping for
their automation-enabling tool front ends."
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ASYST TO ACQUIRE HINE DESIGN....................................... Page 2 of 2
Derek Hine, chairman and chief executive officer of Hine Design, noted, "We
are extremely pleased about the opportunity to partner with Asyst. We share a
close geographical proximity, internal culture, passion for excellence and
complementary product lines. Asyst already has global resources dedicated to
sales, service and applications engineering - areas that are necessary for the
next phase of growth. In addition, we believe that our capability to serve our
current customers and grow the customer base for our robotic products is a
valuable benefit. Our combined capabilities will allow us to provide a
complete, tool-centric automation solution that leverages Hine Design's
significant design wins placing robotics on emerging new platforms."
Moshier elaborated, "For cost and competitive reasons, automating the
semiconductor manufacturing process is an imperative. The transition to a
highly automated manufacturing methodology is a reality today, and will only
accelerate as the move to 300 mm wafer size gains momentum. The material
handling and software communications at the front end of the tool will provide
the factory interface to enable fully automated manufacturing. Combined with
Asyst's existing core competencies in SMIF, minienvironment technology, WIP
tracking, lot validation, and factory automation software, the addition of
Hine's tool robotics will optimize our ability to capitalize on this growing
market opportunity."
Except for statements of historical fact, the statements in this press release
are forward-looking. Such statements are subject to a number of risks and
uncertainties that could cause actual results to differ materially from the
statements made. These factors include, but are not limited to, general
economic conditions, semiconductor industry cycles, risks associated with the
acceptance of new products and product capabilities, and other factors more
fully detailed in the Company's most recent Forms 10-K annual report and 10-Q
quarterly report on file with the SEC.
ABOUT HINE DESIGN: Hine Design Inc. is a privately held company with
headquarters in Sunnyvale, Calif. specializing in the design and manufacture
of wafer and flat panel display material handling solutions for original
equipment manufacturers. Founded in 1983 by Derek Hine, CEO, the Company
continues to pursue its vision of providing customers with the highest quality
and maximum value in material handling systems. Hine Design is an ISO9001
certified company and has received Lam Research Corp.'s Supplier of the Year
award for five consecutive years and GaSonics International's first
Outstanding Supplier award.
ABOUT ASYST: The pioneer of the Standard Mechanical InterFace (SMIF), Asyst
Technologies, Inc. is the leading provider of automated material handling
systems critical to seamless factory automation in the most advanced fabs
worldwide. Asyst's comprehensive solutions, which include industry-leading 200
mm and 300 mm product offerings, result in greater fab profitability and
productivity. Through innovative developments in the software and integration
services area, Asyst Software, Inc., a wholly owned subsidiary, provides
integrated circuit (IC) manufacturers fully automated solutions addressing
their most advanced manufacturing challenges. Founded in 1984, Asyst
Technologies, Inc. is headquartered in Fremont, Calif., with facilities in
Europe and the Pacific Rim. Asyst Software, Inc., is located in San Jose, CA.
Asyst's homepage is located on the World Wide Web at http://www.asyst.com
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