February 25, 2008 — /PRNewswire/ — LOS ANGELES AND SUNNYVALE, CA — Aquest Systems Corp. and The Gores Group, LLC are jointly releasing a letter that describes their proposal to explore the acquisition of Asyst Technologies, Inc. (NASDAQ:ASYT) at a significant premium to the company’s current share price. Aquest and Gores are releasing the letter so that Asyst’s shareholders are aware of the proposal and are in a position to evaluate the potential benefits of such a transaction.
Aquest develops next-generation automation technologies for the worldwide semiconductor industry. Aquest was founded by Dr. Mihir Parikh, who was also the founder of Asyst and its CEO from inception in 1984 until 2002. Aquest’s private investors include Menlo Ventures, one of the technology industry’s most successful and respected venture capital firms, and also the founding investor of Asyst. Gores is a private equity firm focused on acquiring controlling interests in mature and growing businesses that can benefit from the firm’s operating experience and flexible capital base.
About Aquest Systems
Founded in 2004, Aquest Systems is the pioneer of No-Wait ManufacturingSM (NWM) automation technologies for the worldwide semiconductor industry. A truly global company, Aquest employs a worldwide organization to efficiently leverage talent and resources in the United States, Japan, Taiwan, and India. The company is privately held and headquartered in Sunnyvale, CA.
About The Gores Group, LLC
Founded in 1987, The Gores Group, LLC is a private equity firm focused on acquiring controlling interests in mature and growing businesses which can benefit from the firm’s operating experience and flexible capital base. The firm combines the operational expertise and detailed due diligence capabilities of a strategic buyer with the seasoned M&A team of a traditional financial buyer. The Gores Group, LLC has become a leading investor having demonstrated over time a reliable track record of creating substantial value in its portfolio companies alongside management. The firm’s current private equity fund has committed equity capital of $1.3 billion. Headquartered in Los Angeles, The Gores Group, LLC maintains offices in Boulder, CO and London.