Veeco acquires Epiluvac AB for $30M cash plus $35M earn-out to enter SiC epitaxy market

VEECO INSTRUMENTS INC

Acquisition closed Jan 31, 2023; $30M cash at closing with up to $35M in performance-based earn-outs.
Epiluvac is a Swedish CVD epitaxy system maker for SiC applications in electric vehicles; has 11 employees.
SiC device market forecast ~30% CAGR (2023–2027); SiC epitaxy equipment market ~15% CAGR per Yole Group.
Impact to Veeco's 2023 financials not expected to be material; volume revenue anticipated in 2024.
Deal reduces Veeco's time to market in high-growth SiC equipment; complements existing MOCVD product line.

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