Intevac, Inc. (Nasdaq:IVAC) announced today it has sold its Continuum TM semiconductor mainframe technology, including all intellectual property and residual assets, to Brooks Automation, Inc. (“Brooks”). Brooks is a leading supplier of vacuum mainframes to semiconductor front-end manufacturing and adjacent markets. “This transaction supports our equipment growth and diversification strategy, in that we will concentrate more of our focus on high-productivity processing solutions for small substrates such as hard drive media and solar cells,” commented Kevin Fairbairn, Intevac’s president and chief executive officer. “Brooks is the industry leader in vacuum mainframe solutions, making them exceptionally well-suited to drive the high-productivity linear mainframe technology in the semiconductor and other markets.” Safe Harbor Statement This press release includes statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). Intevac claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. These forward-looking statements are often characterized by the terms “may,” “believes,“ “projects,” “expects,” or “anticipates,” and do not reflect historical facts. Specific forward-looking statements contained in this press release include, but are not limited to, the company’s ability to concentrate its equipment diversification strategy and focus on small-substrate process solutions. The forward-looking statements contained herein involve risks and uncertainties that could cause actual results to differ materially from the company’s expectations. These risks include, but are not limited to, the ability to further support and succeed at our growth and diversification efforts, which could have a material impact on our business, our financial results, and the company's stock price. These risks and other factors are detailed in the company’s regular filings with the U.S. Securities and Exchange Commission. About Intevac Intevac was founded in 1991 and has two businesses: Equipment and Intevac Photonics. Equipment Business: We are a leader in the design, development and marketing of high productivity lean manufacturing systems and have been producing Lean Thinking platforms since 1994. We provide process manufacturing equipment solutions to the hard disk drive industry, and high-productivity process manufacturing equipment and inspection solutions to the solar photovoltaic industry.
The most recent short interest data was recently released by the NASDAQ for the 11/14/2014 settlement date, and Intevac, Inc. is one of the most shorted stocks of the Russell 3000, based on 23.81 "days to cover" versus the median component at 5.85.