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FormFactor Announces the Closing of FICT Transaction

1. FormFactor closed acquisition of FICT with MBKP; investment is $60M for 20% stake. 2. Acquisition secures access to advanced probe card technologies; enhancing strategic collaboration. 3. Board seat on FICT obtained for FormFactor; investment deemed non-material to operating results. 4. Transaction strengthens semiconductor test supply chain; positions FICT for continued advanced tech development.

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Why Neutral?

The deal is strategically positive by deepening technology access and collaboration but explicitly noted as not materially affecting operating results. Similar past strategic investments in semiconductor equipment have led to gradual benefits rather than immediate price shifts.

How important is it?

The acquisition underlines strategic alignment and technology enhancement that could impact FORM over time, though limited immediate financial effect moderates its near-term importance.

Why Long Term?

While the investment shows little short-term earnings impact, it positions FormFactor for future competitive advantages and supply chain strength, benefiting long-term prospects.

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February 24, 2025 09:00 ET  | Source: FormFactor, Inc. LIVERMORE, Calif., Feb. 24, 2025 (GLOBE NEWSWIRE) -- FormFactor, Inc. (Nasdaq: FORM) is pleased to announce the closing of its acquisition, together with North Asia private equity firm MBK Partners (“MBKP”), of FICT Limited (“FICT”). As stated on February 5th, 2025, this transaction secures FormFactor’s access to FICT’s essential technologies for advanced probe cards, strengthens the long-term partnership between the companies, and positions FICT to continue developing leading-edge technologies for its customers in the semiconductor and high-performance computing markets.  FormFactor invested approximately $60M for a 20% non-controlling stake and was granted a seat on the company’s board of directors. This investment is not expected to have a material impact on FormFactor’s operating results.  “FormFactor and MBKP are committed to the success of FICT and FICT’s customers,” commented Mike Slessor, FormFactor CEO. “This transaction solidifies our important collaboration with FICT to build world-class test and packaging consumables, and strengthens the semiconductor test supply chain serving the rapidly accelerating adoption of advanced packaging.”  About FormFactor: FormFactor, Inc. (NASDAQ: FORM), is a leading provider of essential test and measurement technologies along the full semiconductor product life cycle - from characterization, modeling, reliability, and design de-bug, to qualification and production test. Semiconductor companies rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company’s website at www.formfactor.com.  Forward-looking Statements:  This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the federal securities laws, including with respect to the Company’s future financial and operating results, and the Company’s plans, strategies and objectives for future operations. These statements are based on management’s current expectations and beliefs as of the date of this release, and are subject to a number of risks and uncertainties, many of which are beyond the Company’s control, that could cause actual results to differ materially from those described in the forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding the expected impact of the transaction on the Company’s operating results, the expected benefit of the transaction to the Company and the industry, and other statements regarding the Company’s business. Forward-looking statements may contain words such as “may,” “might,” “will,” “expect,” “plan,” “anticipate,” “forecast,” and “continue,” the negative or plural of these words and similar expressions, and include the assumptions that underlie such statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in demand for the Company’s products; customer-specific demand; market opportunity; anticipated industry trends; the potential impact on the business of FormFactor and FICT due to uncertainties in connection with the acquisition; the retention of employees of FICT following acquisition; the ability of FormFactor to achieve expected benefits from the FICT acquisition; the availability, benefits, and speed of customer acceptance or implementation of new products and technologies; manufacturing, processing, and design capacity, goals, expansion, volumes, and progress; difficulties or delays in research and development; industry seasonality; risks to the Company’s realization of benefits from acquisitions, investments in capacity and investments in new electronic data systems and information technology; reliance on customers or third parties (including suppliers); changes in macro-economic environments; events affecting global and regional economic and market conditions and stability such as military conflicts, political volatility, infectious diseases and pandemics, and similar factors, operating separately or in combination; and other factors, including those set forth in the Company’s most current annual report on Form 10-K, quarterly reports on Form 10-Q and other filings by the Company with the U.S. Securities and Exchange Commission. In addition, there are varying barriers to international trade, including restrictive trade and export regulations such as the US-China restrictions, dynamic tariffs, trade disputes between the U.S. and other countries, and national security developments or tensions, that may substantially restrict or condition our sales to or in certain countries, increase the cost of doing business internationally, and disrupt our supply chain. No assurances can be given that any of the events anticipated by the forward-looking statements within this press release will transpire or occur, or if any of them do so, what impact they will have on the results of operations or financial condition of the Company. Unless required by law, the Company is under no obligation (and expressly disclaims any such obligation) to update or revise its forward-looking statements whether as a result of new information, future events, or otherwise.  Source: FormFactor, Inc. FORM-F  Investor ContactStan FinkelsteinInvestor Relations(925) 290-4273ir@formfactor.com

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