FormFactor says court OKs Electroglas acquisition

FormFactor says Delaware bankruptcy court approves acquisition of Electroglas assets

• On 5:15 pm EDT, Tuesday October 6, 2009

LIVERMORE, Calif. (AP) -- Chip testing equipment maker FormFactor Inc. said Tuesday a Delaware bankruptcy court has approved its acquisition of certain intellectual property rights and technology assets of Electroglas Inc.

Financial terms were not disclosed.

The company said it will use the purchases from Electroglas, a semiconductor manufacturing equipment maker, in its manufacturing operations.

The acquisition relates to precision motion control automation, not assets and technology used in Electroglas' prober business, which are expected to be bought separately by a third party.

The assets acquired by FormFactor were made available through a bankruptcy auction. Electroglas filed for Chapter 11 bankruptcy protection in July.

Shares of FormFactor rose 6 cents to close at $21.78 in a broad market rally.