FormFactor acquires a 20% stake in FICT Limited, enhancing collaboration in semiconductor technologies.
Quiver AI Summary
FormFactor, Inc. has completed its acquisition of FICT Limited in partnership with MBK Partners, investing approximately $60 million for a 20% non-controlling stake, which also grants FormFactor a seat on FICT's board. This strategic move aims to enhance access to advanced probe card technologies and strengthen the collaboration between the two companies, thereby promoting innovation in the semiconductor and high-performance computing sectors. FormFactor's CEO, Mike Slessor, emphasized the commitment to FICT's success and the overall semiconductor supply chain. The investment is not predicted to significantly impact FormFactor’s financial results.
Potential Positives
- FormFactor's acquisition of FICT Limited secures access to essential technologies for advanced probe cards, enhancing its product offerings.
- The investment of approximately $60M for a 20% non-controlling stake demonstrates FormFactor's commitment to collaboration and innovation in the semiconductor market.
- Granting FormFactor a seat on the board of directors indicates strengthened influence and partnership in guiding FICT's future developments.
- This transaction is expected to strengthen the semiconductor test supply chain, supporting the growing demand for advanced packaging technologies.
Potential Negatives
- The company’s investment in FICT is a non-controlling stake, suggesting limited influence over FICT's strategic direction and operations.
- The acquisition could expose FormFactor to risks associated with FICT's operations, including potential employee retention issues and the realization of expected benefits from the acquisition.
- The forward-looking statements suggest significant uncertainties and risks that could impact FormFactor's future financial results and operational benefits from the acquisition.
FAQ
What is the recent acquisition by FormFactor?
FormFactor has acquired a 20% non-controlling stake in FICT Limited in partnership with MBK Partners.
How much did FormFactor invest in FICT?
FormFactor invested approximately $60 million for the 20% stake in FICT Limited.
What technologies does FICT provide that benefit FormFactor?
FICT provides essential technologies for advanced probe cards, enhancing FormFactor’s capabilities in the semiconductor market.
Will the acquisition impact FormFactor's financial results?
This investment is not expected to have a material impact on FormFactor’s operating results.
Who is the CEO of FormFactor?
The CEO of FormFactor is Mike Slessor, who commented on the significance of the FICT acquisition.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FORM Insider Trading Activity
$FORM insiders have traded $FORM stock on the open market 12 times in the past 6 months. Of those trades, 0 have been purchases and 12 have been sales.
Here’s a breakdown of recent trading of $FORM stock by insiders over the last 6 months:
- MIKE SLESSOR (CEO) has made 0 purchases and 11 sales selling 24,000 shares for an estimated $1,017,664.
- DENNIS THOMAS ST sold 3,100 shares for an estimated $121,233
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FORM Hedge Fund Activity
We have seen 155 institutional investors add shares of $FORM stock to their portfolio, and 194 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ALLIANCEBERNSTEIN L.P. added 1,742,493 shares (+127.0%) to their portfolio in Q4 2024, for an estimated $76,669,692
- HOOD RIVER CAPITAL MANAGEMENT LLC removed 1,626,352 shares (-100.0%) from their portfolio in Q4 2024, for an estimated $71,559,488
- AMERICAN CENTURY COMPANIES INC removed 595,466 shares (-98.5%) from their portfolio in Q4 2024, for an estimated $26,200,504
- EARNEST PARTNERS LLC added 594,426 shares (+10.9%) to their portfolio in Q4 2024, for an estimated $26,154,744
- BANK OF AMERICA CORP /DE/ added 585,117 shares (+29.9%) to their portfolio in Q4 2024, for an estimated $25,745,148
- AMERIPRISE FINANCIAL INC added 569,677 shares (+138.2%) to their portfolio in Q4 2024, for an estimated $25,065,788
- VANGUARD GROUP INC added 484,176 shares (+4.8%) to their portfolio in Q4 2024, for an estimated $21,303,744
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LIVERMORE, Calif., Feb. 24, 2025 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) is pleased to announce the closing of its acquisition, together with North Asia private equity firm MBK Partners (“MBKP”), of FICT Limited (“FICT”). As stated on February 5
th
, 2025, this transaction secures FormFactor’s access to FICT’s essential technologies for advanced probe cards, strengthens the long-term partnership between the companies, and positions FICT to continue developing leading-edge technologies for its customers in the semiconductor and high-performance computing markets.
FormFactor invested approximately $60M for a 20% non-controlling stake and was granted a seat on the company’s board of directors. This investment is not expected to have a material impact on FormFactor’s operating results.
“FormFactor and MBKP are committed to the success of FICT and FICT’s customers,” commented Mike Slessor, FormFactor CEO. “This transaction solidifies our important collaboration with FICT to build world-class test and packaging consumables, and strengthens the semiconductor test supply chain serving the rapidly accelerating adoption of advanced packaging.”
About FormFactor:
FormFactor, Inc. (NASDAQ: FORM), is a leading provider of essential test and measurement technologies along the full semiconductor product life cycle - from characterization, modeling, reliability, and design de-bug, to qualification and production test. Semiconductor companies rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company’s website at
www.formfactor.com
.
Forward-looking Statements
:
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws, including with respect to the Company’s future financial and operating results, and the Company’s plans, strategies and objectives for future operations. These statements are based on management’s current expectations and beliefs as of the date of this release, and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the expected impact of the transaction on the Company’s operating results, the expected benefit of the transaction to the Company and the industry, and other statements regarding the Company’s business. Forward-looking statements may contain words such as “may,” “might,” “will,” “expect,” “plan,” “anticipate,” “forecast,” and “continue,” the negative or plural of these words and similar expressions, and include the assumptions that underlie such statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in demand for the Company’s products; customer-specific demand; market opportunity; anticipated industry trends; the potential impact on the business of FormFactor and FICT due to uncertainties in connection with the acquisition; the retention of employees of FICT following acquisition; the ability of FormFactor to achieve expected benefits from the FICT acquisition; the availability, benefits, and speed of customer acceptance or implementation of new products and technologies; manufacturing, processing, and design capacity, goals, expansion, volumes, and progress; difficulties or delays in research and development; industry seasonality; risks to the Company’s realization of benefits from acquisitions, investments in capacity and investments in new electronic data systems and information technology; reliance on customers or third parties (including suppliers); changes in macro-economic environments; events affecting global and regional economic and market conditions and stability such as military conflicts, political volatility, infectious diseases and pandemics, and similar factors, operating separately or in combination; and other factors, including those set forth in the Company’s most current annual report on Form 10-K, quarterly reports on Form 10-Q and other filings by the Company with the U.S. Securities and Exchange Commission. In addition, there are varying barriers to international trade, including restrictive trade and export regulations such as the US-China restrictions, dynamic tariffs, trade disputes between the U.S. and other countries, and national security developments or tensions, that may substantially restrict or condition our sales to or in certain countries, increase the cost of doing business internationally, and disrupt our supply chain. No assurances can be given that any of the events anticipated by the forward-looking statements within this press release will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of the Company. Unless required by law, the Company is under no obligation (and expressly disclaims any such obligation) to update or revise its forward-looking statements whether as a result of new information, future events, or otherwise.
Source: FormFactor, Inc.
FORM-F
Investor Contact
Stan Finkelstein
Investor Relations
(925) 290-4273
ir@formfactor.com
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
