Kingstone Technology is a holding company that owns 100% of Kingstone Semiconductor, a Shanghai-based technology company specializing in ion implant solutions for the solar and semiconductor industries.
Amtech paid $5.5m in the form of cash and stock and $4m in the form of a contingent promissory note to acquire the ownership stake.
The payments of up to $4m pursuant to the contingent note are to be made to the acquired company and used to fund Kingstone Semiconductor’s development of a next generation solar ion implant machine.
Amtech will have exclusive worldwide rights to sell any solar ion implant machine developed by Kingstone Semiconductor.
Over the next two years, Amtech will provide additional funding for the development of the next generation solar ion implant machine.
Amtech manufactures capital equipment, including silicon wafer handling automation, thermal processing equipment and related consumables used in fabricating solar cells and semiconductor devices.
