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Veeco

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Veeco Instruments Inc.
Company typePublic (Nasdaq: VECO)
IndustrySemiconductors, Data Storage, Power Electronics, Wireless, Optical, MEMS
HeadquartersPlainview, New York
Key people
John Peeler, Chairman & CEO David Glass, CFO
Websitewww.veeco.com

Veeco's (NASDAQ: VECO) process equipment solutions enable the manufacture of LEDs, power electronics, hard drives, MEMS and wireless chips. Veeco is the market leader in MOCVD, MBE, Ion Beam and other advanced thin film process technologies. Veeco's high performance systems drive innovation in energy efficiency, consumer electronics and network storage and allow customers to maximize productivity and achieve lower cost of ownership.

Markets Served

LED & Solar Process Equipment

Veeco provides Process Equipment technologies primarily to manufacturers of high brightness LEDs[1] and solar cells.[2]

• Metal Organic Chemical Vapor Deposition (MOCVD) for LEDs and CPV solar cells

• Thermal deposition sources for CIGS (Copper, Indium, Gallium, Selenium) solar cells

• Molecular Beam Epitaxy (MBE) products which include systems and components. MBE has broad applications from power amplifiers to scientific research.

Data Storage Process Equipment

Veeco is a key supplier to hard disk drive (HDD) manufacturers[3] for the production of thin film magnetic heads. Their products enable higher areal density[4] - the amount of data that can be stored - and improve yield and uniformity. They supply both “front” and “back-end” technologies including:

• Ion Beam Etch (IBE) and Ion Beam Deposition (IBD)

• Physical vapor deposition (PVD)

• Lapping and Dicing Equipment

History

Today's Veeco Instruments Inc. traces its history back to an earlier company which was incorporated in 1945 by two Manhattan Project scientists who created the helium leak detector. The Company's original name "Veeco" stood for Vacuum Electronic Equipment Company. In the 1960s, the original Veeco merged with Lambda, a manufacturer of power supplies, and in the late 1980s was purchased by a British company named Unitech.

In 1990, Edward H. Braun,[5] then COO of Veeco, and a group of senior company executives purchased Veeco's instrument business from Unitech in a management buy-out. The company again used the Veeco Instruments trade name and completed an initial public offering on the Nasdaq National Market in 1994 (NASDAQ: VECO) -- at the time Veeco's sales were approximately $30 million.

Since the management buy-out and IPO, Mr. Braun, as Chairman and Chief Executive Officer, has led the company through a transformation focused on supplying equipment to information age industries. Veeco has grown both through internal development and strategic acquisitions—the Company has completed over a dozen acquisitions to date.

In July 2007 Mr. Braun, aged 68, became Chairman of the Board of Veeco, with John R. Peeler, 52, joining the Company as Chief Executive Officer. Mr. Peeler was formerly President of JDSU’s (NASDAQ: JDSU) Communications Test and Measurement Division, its largest and most profitable business segment. In May 2012, Mr. Peeler became Chairman of the Board of Veeco.

In October 2010, Veeco announced the sale of its metrology business to Bruker Corporation in a cash deal for $229.4 million.[6] Veeco is now solely focused on supplying process equipment to the LED, solar, data storage and wireless market.

Acquisitions

Veeco has completed over a dozen acquisitions since 1994.

Services/Support

Veeco Certified Equipment offers fully refurbished and tested pre-owned Veeco ion beam etch or deposition systems. The program provides a 12-month full-factory warranty on hardware and software, optional applications and training support packages.

References

  1. ^ http://finance.yahoo.com/news/ElecTech-Selects-Veeco-MOCVD-bw-2420411484.html?x=0&.v=1
  2. ^ http://nanotechwire.com/news.asp?nid=8523
  3. ^ http://www.earthtimes.org/articles/press/film-magnetic-head-manufacturers,1500564.html
  4. ^ http://www.nanowerk.com/news/newsid=16741.php
  5. ^ http://people.forbes.com/profile/edward-h-braun/24855
  6. ^ http://www.businesswire.com/news/home/20101007006871/en/Veeco-Completes-Sale-Metrology-Business-Bruker-Corporation
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