MVTS Technologies, LLC. Acquires Electroglas Wafer Probe Assets From Probe Specialists, Inc. and Enters Into Licensing Agreement With FormFactor, Inc.

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CARLSBAD, Calif., Feb. 10, 2014 (GLOBE NEWSWIRE) -- MVTS Technologies, a leader of legacy semiconductor equipment support, has acquired substantially all the assets of Probe Specialists, Inc. (PSI). Leveraging PSI's expertise, MVTS will now provide global sales and service for the Electroglas 2001 product line as well as the PSI and Miller Design-created NexGen prober platform. This acquisition furthers MVTS' investment in the wafer probe market, complementing its current 4090 capabilities. Under the terms of the asset purchase agreement, MVTS has acquired all global inventory and goodwill of PSI, in addition to retaining key directors and employees.

At the same time, MVTS has signed a licensing agreement with FormFactor, Inc., to use the Electroglas intellectual property, to support the said product lines.

Ron Maassen, CEO of MVTS, said, "PSI has an excellent reputation for supporting the older Electroglas product lines and will contribute depth and product knowledge to our organization while augmenting our investments in the wafer probe market."

Randy Medina, founder of PSI, said, "I look forward to joining the MVTS team and leveraging their global footprint and infrastructure to deliver the same level of service on a larger scale."

About MVTS Technologies

MVTS Technologies provides premier equipment, service, and support solutions to manufacturers worldwide. Delivering and supporting refurbished systems, upgrades, and consumables to semiconductor manufacturers in more than 15 countries in North America, Europe, and Asia, MVTS enables customers and OEM affiliates to extend the life and value of investments in semiconductor equipment and other technologies. Founded in 1994, MVTS is privately held and headquartered in Carlsbad, California. More information is available at www.mvts.com.

CONTACT: MVTS Technologies E-Mail: craig.staub@mvts.com

Source:MVTS Technologies, LLC