PDF Solutions, Inc. (Nasdaq: PDFS) today announced it has entered into a definitive agreement to acquire secureWISE, LLC, the most widely used secure, remote connectivity solution in the semiconductor manufacturing equipment industry, from Telit IOT Solutions Inc.

The secureWISE global network enables equipment manufacturers to bring up new equipment faster, provide operational support, and maximize the value derived from the equipment customers’ investments. It is currently used by over 100 equipment vendors to connect and control their tools located in over 190 semiconductor fabs and to manage the exchange of multiple petabytes of data annually.

PDF Solutions empowers semiconductor companies to maximize their manufacturing effectiveness. The PDF Solutions platform breaks down data silos to enable engineers to uncover critical relationships across manufacturing and design, resulting in better process control, product screening, and equipment operations.

As the semiconductor industry becomes more globally distributed, and as advanced devices rely on the integration of multiple chiplets into a single package, more collaboration and integration are required across the semiconductor industry. This collaboration needs to be executed securely with each participant controlling access to its intellectual property.

Today, secureWISE customers have built applications on top of the secureWISE network to deliver equipment analytics. PDF Solutions expects the acquisition to accelerate equipment makers’ ability to derive value from equipment data by enabling them to leverage PDF Solutions’ Exensio analytics software.

Beyond enabling equipment vendors to build equipment analytics at foundries, the acquisition of secureWISE is expected to dramatically expand the capability of PDF Solutions’ secure DEX OSAT network by allowing equipment makers, fab operators, and fabless companies to collaborate to optimize chip manufacturing and test.

“This acquisition extends PDF Solutions analytics for equipment makers and fabless to the factory manufacturing level, which allows them to generate value from AI,” said Dr. John Kibarian, President, CEO and co-founder of PDF Solutions. He continued, “We provide the leading analytics platform for semiconductor manufacturing, and with secureWISE, the PDF Solutions platform will also be able to help members of the semiconductor ecosystem collaborate through a secure, direct connection and control the manufacturing process down to the production equipment.”

Mike Dempsey, Vice President of secureWISE LLC, said, “We believe PDF Solutions is the ideal partner to accelerate secureWISE’s evolution, ensuring we remain at the forefront of industry trends and ahead of our customers’ needs. This acquisition will strengthen our ability to anticipate, pioneer, and integrate a far richer suite of security, collaboration, and analytics capabilities into our platform. As data exchange and collaboration become increasingly relevant to the semiconductor industry, this acquisition will better position secureWISE to deliver maximum long-term benefit to its customers who have invested in our platform.”

Under the terms of the definitive agreement, PDF Solutions will pay a cash amount of $130.0 million, subject to customary purchase price adjustments. The purchase price will be funded by a combination of cash on hand and $70M of new bank debt. The acquisition is subject to certain closing conditions and is expected to close in the first calendar quarter of 2025.

TD Securities (USA) LLC acted as financial advisor and Latham & Watkins LLP acted as legal advisor to PDF Solutions.

Updated Financial Outlook
John Kibarian, CEO and President of PDF Solutions, said, “Assuming the transaction closes in the first quarter of 2025, and with purchase accounting adjustments, we would expect to achieve a full year 2025 revenue growth rate between 21% to 23% on year-over-year basis. Given that, we also expect to achieve 2025 gross margin in line with our corporate gross margin, our target model 20% operating margin, and for EPS to be slightly accretive.”

Conference Call
PDF Solutions will discuss this announcement on a live conference call beginning at 3:00 p.m. Pacific Time / 6:00 p.m. Eastern Time today. To participate in the live call, analysts and investors should pre-register at: https://register.vevent.com/register/BI9abfc7eadb2245c5ba00c59922fe6c87.

Registrants will receive dial-in information and a unique passcode to access the call. We encourage participants to dial into the call ten minutes ahead of the scheduled time. The teleconference will also be webcast simultaneously on the Company’s website at https://ir.pdf.com/webcasts. A replay of the conference call webcast will be available after the call on the Company’s investor relations website. A copy of this press release will also be available on PDF Solutions’ website at News & PR Archives - PDF Solutions following the date of this release.

Forward-Looking Statements
The statements in this press release regarding the expected future financial results, benefits and synergies of the secureWISE acquisition on PDF Solution’s product offerings, and the expected closing of the secureWISE acquisition are forward looking and are subject to future events and circumstances. Actual results could differ materially from those expressed in these forward-looking statements. Risks and uncertainties that could cause results to differ materially include risks associated with: uncertainties with respect to the timing of the closing of the proposed transaction, including when and whether all conditions to closing will be satisfied; the failure of expected benefits from the proposed transaction to be realized or to be realized within the expected time period; uncertainties with respect to the future performance of secureWISE following an acquisition by PDF Solutions; PDF Solution’s ability to integrate secureWISE and its product and service offerings, the cost and schedule of new product development; continued adoption of the PDF Solution’s and secureWISE’s solutions by new and existing customers; the fact that operating costs and business disruption may be greater than expected following the public announcement or consummation of the proposed transaction; potential adverse reactions or changes to business or employee relationships, including those resulting from the public announcement or consummation of the proposed transaction; the incurrence of significant transaction costs related to the proposed transaction; unknown or understated liabilities of secureWISE; and other risks set forth in PDF Solutions’ periodic public filings with the Securities and Exchange Commission, including, without limitation, its Annual Reports on Form 10-K, most recently filed for the year ended December 31, 2023, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K and amendments to such reports. The forward-looking statements made herein are made as of the date hereof, and PDF Solutions does not assume any obligation to update such statements nor the reasons why actual results could differ materially from those projected in such statements.

About PDF Solutions
PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics industry ecosystem to improve the yield and quality of their products and operational efficiency for increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor and electronics ecosystem to achieve smart manufacturing goals by connecting and controlling equipment, collecting data generated during manufacturing and test operations, and performing advanced analytics and machine learning to enable profitable, high-volume manufacturing.

Founded in 1991, PDF Solutions is headquartered in Santa Clara, California, with operations across North America, Europe, and Asia. The Company (directly or through one or more subsidiaries) is an active member of SEMI, INEMI, TPCA, IPC, the OPC Foundation, and DMDII. For the latest news and information about PDF Solutions or to find office locations, visit: https://www.pdf.com.

Headquartered in Santa Clara, Calif., PDF Solutions also operates worldwide in Canada, China, France, Germany, Italy, Japan, Korea, Sweden, and Taiwan. For the Company’s latest news and information, visit https://www.pdf.com.

About secureWISE
The secureWISE platform enables secure and controlled remote connectivity, collaboration and service enablement in the semiconductor industry. The secureWISE suite of products and services is designed to give OEM suppliers role-based, real-time and on-demand access to their equipment that is installed at the production facilities of their customers, to deliver valuable operational insights, mission-critical performance, substantial time and cost savings, and new service revenue opportunities. As the only remote access tool built around the ISMI guidelines, secureWISE is installed in over 90% of the world’s 300mm semiconductor fabs and also numerous solar and chemical plants across the globe. https://www.telit.com/iot-platforms-overview/telit-securewise/

PDF Solutions and the PDF Solutions logo are trademarks or registered trademarks of PDF Solutions, Inc. and/or its subsidiaries in the United States and other countries. Other trademarks used herein are the property of their owners.

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From January 1, 2025 Heraeus is combining the high-performance materials expertise of Heraeus Conamic and Heraeus Comvance into a new operating company: Heraeus Covantics. The merged business will be led by a new management team. The legal entities will remain the same.

With the new operating company, Heraeus is further expanding its technology leadership in the manufacturing and processing of high-purity quartz, fused silica, and other high-end materials such as ceramics and innovative composites.

“We are creating a global powerhouse in which we drive innovation and exploit technological synergies,” explain Christoph Fark, Michael Werth and Nikolas Pojezny, Managing Directors of Heraeus Covantics. ”The new structure more closely aligns our combined capabilities and competencies with market requirements and customer needs. This enables our customers to strengthen their competitive advantage.”

Heraeus Covantics manufactures semi-finished products, complex system components and custom-tailored solutions made of quartz glass, fused silica and ceramic materials. They are used in the data transmission and telecommunication industry, the production of specialty optical fibers for industrial and medical applications, semiconductor manufacturing and optical applications among others.

About Heraeus
Heraeus is a family-owned global technology group headquartered in Hanau, Germany. The company’s roots go back to a family pharmacy started in 1660. With its expertise and resources, Heraeus has been making meaningful contributions over generations and is committed to do so in the future. Today, the group bundles diverse activities in four Business Platforms: Metals and Recycling, Healthcare, Semiconductor and Electronics, as well as Industrials. Customers benefit from innovative technologies and solutions based on broad materials knowledge and technological leadership. In the 2023 financial year, the group generated revenues of €25.6 billion (US$27.7 billion*) with approximately 16,400 employees in 40 countries. Heraeus is one of the top 10 family-owned companies in Germany.

About Heraeus Covantics
Heraeus Covantics is a technology leader specializing in the manufacturing and processing of the industry’s highest purity quartz, fused silica and other high-end materials such as ceramics and composites. With locations in Europe, USA and Asia, Heraeus Covantics manufactures semi-finished products, complex system components and custom-tailored solutions made of quartz glass, fused silica and ceramic materials. They are used in the data transmission and telecommunication industry, the production of specialty optical fibers for industrial and medical applications, semiconductor manufacturing and optical applications among others.

• Read more about Heraeus Covantics: Materials specialist further expands its technology leadership

Innexis delivers a set of products and capabilities to address demand for shift-left software development in the IC development process

With more demanding software workloads, it is critical to facilitate the development and execution of realistic workloads early in the design phase to shorten overall development time and identify hardware and software defects earlier
Siemens Digital Industries Software announced today the Innexis product suite, a complement to its industry leading Veloce™ hardware-assisted verification and validation system.

Building on the success and rapid adoption of Veloce, Siemens’ Innexis product suite delivers a set of capabilities to address customer demand for shift-left software in the early phases of IC development. These products include a hardware/software development flow from virtual to hybrid to full RTL, an architecture native virtual platform for early high-speed software development and a simulation backplane that enables the development of digital twins in Siemens’ PAVE360™ software for software-defined vehicles and other complex systems.

“The complexity of integrated circuits (IC) is increasing exponentially, designers need more efficient methodologies to meet industry demands. Veloce has seen rapid adoption by industry leaders to help solve this critical bottleneck. The Innexis product suite extends workflow improvements from Veloce to help our customers shift left their IC development and debug cycle,” said Jean-Marie Brunet, vice president and general manager, Hardware-Assisted Verification, Siemens Digital Industries Software. “This enables IC design to begin months before final RTL, all while using a common software workload across the development process.”

Adoption of a shift-left approach for software development and IP verification processes is now mandatory. As chip designs become increasingly complex due to more demanding software workloads, it is critical to enable the development and execution of realistic workloads early in the design phase. A proactive shift-left software approach helps mitigate the risk of identifying issues late in the development cycle.

“The implementation of Innexis in our development process has significantly enhanced software and system validation performance, thereby improving the efficiency of our teams and projects. By enabling heterogeneous component modeling within virtual platforms, it allows us to create realistic high-speed models of System on Chips (SoCs),” said Ari Hautala, Principal System Architect, Nokia Mobile Networks. “Furthermore, the integration of these high-speed virtual platforms with RTL IP on Veloce emulators facilitates superior overall performance while still permitting precise cycle-accurate performance and power analysis on RTL model components. Additionally, Innexis offers exceptional visibility and debuggability for the SoC design, along with the capability to integrate and execute a large number of complex test cases effectively.”

Currently, the Innexis product suite consists of:

Innexis Developer Pro: Innexis Developer Pro software provides a connected development flow from virtual to hybrid to full RTL. This provides a comprehensive environment for accelerating the creation of complex SoC design supporting a wide range of use-cases including seamless hardware-software co-development, co-validation, and pre-silicon cycle accurate analysis and validation. Innexis Developer Pro supports the modelling of complex SoC’s with heterogeneous cores and custom SystemC model components. In addition, it provides the ability to run in both virtual plus RTL hybrid mode for high performance execution, and then at a time of interest switch to full RTL emulation enabling high accuracy analysis of the full SoC when required.

Innexis Architecture Native Acceleration (ANA): Innexis Architecture Native Acceleration software is a cloud- based high-speed virtual platform. By running natively on Arm based servers the software workloads run at much higher speeds than on typical instruction set simulation based virtual platforms. Cloud hosting also provides scalable compute resources and simple browser-based access and tools. Innexis Architecture Native Acceleration can also run on local Arm based servers if preferred. In both cases it enables early software development and testing, and early software defect identification.

Innexis Virtual System Interconnect: Innexis Virtual System Interconnect software facilitates the creation and simulation of comprehensive system level digital twin platforms by seamlessly connecting multi-behavioral virtual and physical subsystems, supporting a variety of communication protocols. Innexis Virtual System Interconnect behavioral models can include Innexis Developer Pro or Innexis Architecture Native Acceleration SoC models, supporting system-level shift-left software development and RTL verification.

To learn more about Siemens’ Innexis product suite and how it addresses the demand for shift-left software development in the integrated circuit development process, visit: www.siemens.com/innexis

About Siemens
Siemens Digital Industries Software helps organizations of all sizes digitally transform using software, hardware and services from the Siemens Xcelerator business platform. Siemens' software and the comprehensive digital twin enable companies to optimize their design, engineering and manufacturing processes to turn today's ideas into the sustainable products of the future. From chips to entire systems, from product to process, across all industries. Siemens Digital Industries Software – Accelerating transformation.

Note: A list of relevant Siemens trademarks can be found here. Other trademarks belong to their respective owners.

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Heidelberg Instruments Reports Major Orders for the VPG+ 1400 FPD Volume Pattern Generator from Leading Asian Photomask Manufacturers

Heidelberg, Germany – Heidelberg Instruments has secured two major orders for its VPG+ 1400 FPD Volume Pattern Generator from leading photomask manufacturers in Asia, with a total order value between EUR 9 million and EUR 10 million. Deliveries are scheduled for 2025.

“These significant order intakes mark major milestones for the company, reinforcing our market position and driving further innovation and growth in the display technology sector”, says Alexander Forozan, VP of Global Sales and Business Development.

The VPG+ 1400 is Heidelberg Instruments’ largest system, specifically designed for large-format photomask patterning in the flat panel display (FPD) industry. It supports mask sizes up to 1400 x 1400 mm², making it ideal for various flat panel display generations (G4 to G8). The VPG+ 1400 sets a new standard for high-throughput photomask production, offering the precision and scalability required for large displays. Additionally, it delivers the accuracy needed to produce large-area halftone photomasks for flat panel displays.

Equipped with advanced metrology and alignment features, including Cognex AI-based image recognition, the system ensures precise alignment for multilayered masks. Its linear and nonlinear coordinate corrections further enable precise overlay across tools.
By addressing the diverse exposure needs of customers, Heidelberg Instruments' large-area VPG+ Volume Pattern Generators have proven to be valuable assets in display photomask production lines.

Further information: https://heidelberg-instruments.com/product/vpg-1400-fpd/

• Read more about Heidelberg Instruments Reports Major Orders for the VPG+ 1400 FPD Volume Pattern Generator from Leading Asian Photomask Manufacturers

PDF Solutions, Inc. (Nasdaq: PDFS), a leading provider of comprehensive data solutions for the semiconductor and electronics ecosystems, today announced it will host an Executive Conference on the power of AI to transform semiconductor design and manufacturing. This event will take place on December 12, 2024, in downtown San Francisco, CA, following the 70th Annual IEEE International Electron Devices Meeting.

This one-day Executive Conference will feature presentations from PDF Solutions executives, industry thought leaders, solutions partners and customers on the state of art and best practices to design, deploy, scale, and manage trusted AI/ML solutions across the global semiconductor industry.

Additional information including agenda, logistics, and registration, will be available in the coming weeks.

About PDF Solutions
PDF Solutions (Nasdaq: PDFS) provides comprehensive data solutions designed to empower organizations across the semiconductor and electronics ecosystems to improve the yield and quality of their products and operational efficiency for increased profitability. The Company’s products and services are used by Fortune 500 companies across the semiconductor ecosystem to achieve smart manufacturing goals by connecting and controlling equipment, collecting data generated during manufacturing and test operations, and performing advanced analytics and machine learning to enable profitable, high-volume manufacturing.

• Read more about Save the Date: PDF Solutions announces an Executive Conference on the power of AI to transform semiconductor design and manufacturing