Burlingame, California–Nov. 20, 2000–Metron Technology N.V. has completed the acquisition of privately held Intec Technology Pte. Ltd., a Singapore-based supplier of cleanroom garments used for contamination control in critical environments.
“It has become increasingly evident that the globalization of the semiconductor industry requires suppliers to have the capability of providing a wide range of services to semiconductor manufacturers on a global scale. By joining with Metron, we believe that Intec can evolve from a regional business into a global enterprise,” says James Cher, co-founder and president of Intec.
Under the acquisition agreement, Metron issued new shares in exchange for the entire share capital of Intec and its wholly owned subsidiary in Malaysia. The acquisition will be accounted for as a pooling of interests.
Intec’s current annualized revenues are approximately $8 million, and the company’s goal is to double this number within 3 years through a combination of new product introductions and territorial expansion. All members of Intec’s senior management team will continue to serve in their current capacities and will take on increased responsibilities as Metron extends the cleanroom garment business into other territories.