Veeco

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Veeco Instruments Inc.
Public
Traded as NASDAQVECO
S&P 600 Component
Industry Manufacturing
Founded 1945
Headquarters Plainview, New York, USA
Key people
  • John Peeler, Chairman & CEO
  • David Glass, CFO
  • William Miller, EVP, Process Equipment
Revenue $332.5 million (FY 2016)[1]
Number of employees
Approx. 900
Website www.veeco.com

Veeco Instruments, Inc. is an American manufacturing company that produces process equipment for makers of LEDs, power electronics, hard drives, MEMS and wireless chips. Veeco also sells products for metalorganic vapour phase epitaxy, molecular beam epitaxy, ion beam and other thin film process technologies.

History[edit]

Veeco was incorporated in 1945 by two Manhattan Project scientists, Frank Raible and Al Nerken, who created the helium leak detector. The company's 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 British company Unitech.

In 1990, Edward H. Braun,[2] 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, Braun, as Chairman and Chief Executive Officer, refocused the company on supplying equipment to information-age industries. Veeco grew through internal development and acquisitions—the company has completed over a dozen acquisitions.[citation needed]

In July 2007, Braun, then 68, became Chairman of the Board of Veeco, with John R. Peeler, 52, joining the company as Chief Executive Officer. Peeler was formerly President of JDSU's Communications Test and Measurement Division.[3]

In 2008, Veeco settled a patent litigation it had brought against Asylum Research Corporation in 2003.[4]

In October 2010, Veeco announced the sale of its metrology business to Bruker Corporation in a cash deal for $229.4 million.[5] After its sale, Veeco focused on supplying process equipment to the LED, solar, data storage and wireless market.[citation needed]

In May 2012, Peeler became Chairman of the Board of Veeco.[6]

Acquisitions[edit]

Veeco has completed over a dozen acquisitions since 1994, including the acquisition of privately held Synos Technology, Inc.[7] On May 26, 2017, Veeco acquired process control equipment manufacturer Ultratech.[8]

References[edit]

External links[edit]