August to acquire Semiconductor Technologies and Instruments

May 24, 2002 – Minneapolis, MN – August Technology Corp. has entered into a definitive agreement to acquire Semiconductor Technologies and Instruments Inc. (STI), Plano, TX.

STI, owned by ASTI Holdings Ltd., Singapore, is a competitor in the automated micro defect inspection equipment market. The purchase price is approximately $26.1 million consisting of $12 million cash, a $3 million six month note to ASTI Holdings Ltd. and $11.1 million in stock.

The transaction provides August Technology with an integrated tool combining die sorting with advanced automated inspection. In addition, STI’s installed base adds foundries in Taiwan and several IDMs in Europe and the US to August Technology’s already broad customer list.

Rajiv Roy, STI’s current president, will remain with the organization and lead the Texas operation.

The closing of the transaction is subject to approval by the shareholders of STI’s parent company and other customary conditions and is anticipated to close in 3Q02.


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