October 5, 2005 – Cimetrix Inc., which designs and develops factory automation software, has announced it has completed the acquisition of EFS Solutions Inc., a privately-held engineering services firm specializing in yield and manufacturing data management. Cimetrix paid approximately $1.25M, including $640,000 in stock and $614,000 in cash.
The consideration is subject to a post closing adjustment based on the assets and liabilities of EFS as of closing.
EFS Solutions, which will integrate with Cimetrix’s Global Services Data Management Solution Center, provides specialty engineering services for semiconductor companies. These services primarily include yield and manufacturing data management solutions that help semiconductor companies reduce their costs and improve their processes.
EFS was founded in 2003 by former employees of the TRW Manufacturing Solutions Yield Management Practice to provide essentially the same type of yield management services as the group provided at TRW prior to TRW exiting the business. EFS has steadily increased its revenues every year, with projected revenue of approximately $1.5 to $1.8 million in 2006. The acquisition is expected to be accretive to earnings and is subject only to the completion and filing of the required audited financial statements of EFS.
Currently, Cimetrix’s Global Services operation caters primarily to fab equipment suppliers while EFS is strong at the wafer fabs, a market that Cimetrix will now have better access to for its software solutions.