Photon Dynamics to Acquire Intevac Business

SAN JOSE, Calif., Oct. 23 -- Photon Dynamics Inc., a supplier of integrated yield management solutions for the display, electronics and glass markets, announced it has signed an agreement to acquire the Rapid Thermal Processing portion of the flat-panel display capital equipment business of Intevac Inc., of Santa Clara.

Intevac will sell its patented rapid thermal processing technology used for activating low temperature poly-silicon (LTPS) films during flat-panel display manufacturing for approximately $20 million and assumption of certain liabilities.

The systems are designed to activate LTPS films using a precise heating process, which is critical to the manufacture of advanced active matrix, thin-film transistor liquid crystal displays and organic light-emitting diodes.

The transaction is expected to be completed in early November.

For more information, visit: www.photondynamics.com