Veeco

Veeco Instruments Inc.
Public
Traded as NASDAQ: VECO
S&P 600 Component
Industry Manufacturing
Founded 1945
Headquarters Plainview, New York, USA
Key people
  • John Peeler, Chairman & CEO
  • Dr. William Miller, President
  • Shubham (Sam) Maheshwari, CFO
Revenue $485 million (FY 2017)[1]
Number of employees
 Approx. 900
Website www.veeco.com

Veeco Instruments, Inc. is an American manufacturing company that designs, manufactures and markets thin film process equipment for high-tech electronic device production and development all over the world.

Veeco’s proven metal organic chemical vapor deposition (MOCVD), advanced packaging lithography, laser spike annealing, laser melt, 3D wafer inspection, ion beam etch/deposition (IBE/IBD), single-wafer etch and clean technologies play an integral role in producing advanced LEDs for solid-state lighting and displays as well as in the fabrication of power electronics, hard drives, MEMS, RF/wireless chips, photonics, optics, VCSEL, advanced semiconductor and memory devices. The company also offers molecular beam epitaxy (MBE) and atomic layer deposition (ALD) tools to leading research organizations and universities worldwide.

History

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.

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.

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

Acquisitions

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

  1. ↑ "Veeco Reports Fourth Quarter and Fiscal Year 2016 Financial Results" (PDF).
  2. ↑ "Profile of Edward H. Braun".
  3. ↑ "Profile of John R. Peeler".
  4. ↑ "Veeco and Asylum Research Settle Patent Dispute".
  5. ↑ "Veeco Completes Sale of Metrology Business to Bruker Corporation". Retrieved 2018-05-26.
  6. ↑ "Veeco Transitions Chairman Role" (Press release).
  7. ↑ "Veeco to Purchase Synos Technology". September 19, 2013. Retrieved Jan 10, 2014.
  8. ↑ "Veeco Acquires Ultratech". www.veeco.com. Retrieved 2017-06-23.
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