March 15, 2005- Aviza Technology Inc. and Trikon Technologies today announced entering into a definitive agreement to consolidate through merger into a new holding company, Aviza Technology Inc. The two companies had combined annual revenues of ~$160 million in CY2004. The new company will have approximately 700 employees and an installed base of more than 3000 systems worldwide.
The completion of the merger has already been approved by Aviza’s stockholders and is subject to approval by Trikon’s stockholders as well as other customary conditions.
Under the terms of the agreement, Aviza and Trikon will consolidate into Aviza Technology Inc., which is expected to trade on the Nasdaq National Market. Former Aviza stockholders will own approximately 60% of the new company and former Trikon shareholders will own approximately 40% of the new company, with VantagePoint Venture Partners, Aviza’s largest stockholder, owning approximately 50% of the new company.
Jerry Cutini, president and CEO of Aviza, and Patrick O’Connor, executive VP and CFO of Aviza, will continue in those positions at the newly formed company. John Macneil, CEO of Trikon, will become executive VP and CTO of the newly formed company. The board of directors will be comprised of seven members, three each from Aviza and Trikon and a new outside director to be named. The chairman of the board will be Robert Anderson, who currently serves on the board of directors for Trikon.