Allentown, Pa., August 8, 2017 – Beijing NAURA Microelectronics Equipment Co. Ltd, a leading supplier of Semiconductor Capital Equipment headquartered in Beijing China, is pleased to announce that it has reached an agreement to acquire the assets of Akrion Systems LLC, an Allentown Pennsylvania based supplier of wet-processing systems providing surface preparation for the microelectronic, photovoltaic and display industries. The agreement remains subject to Chinese and US government approvals prior to closing.

The acquisition, if approved by Chinese and US governments, allows NAURA to increase its already large equipment portfolio to address the rapidly growing local Chinese market and enable penetration of the global market. The capital and technology assistance of NAURA also will significantly improve Akrion Systems’ strategic capabilities and provide broader and better support to new and existing customers. Akrion Systems assets will be part of a standalone US registered company fully owned by NAURA.

Michael Ioannou, Akrion Systems CEO, commented, “This is a great opportunity for Akrion Systems and its loyal employees to showcase their technology and capabilities to the global market as an integral part of a much larger strategic entity. NAURA’s reputation and strategic focus is already providing new and exciting opportunities. This will enhance Akrion Systems presence in the technology sector and will enable it to become a stronger employer in the Lehigh Valley.”

Acuity Advisors LLP, a UK based M&A technology advisory firm, is serving as financial advisor and Perkins Coie is serving as legal advisor to Akrion Systems. Needham & Company is serving as financial advisor, Gibson, Dunn & Crutcher LLP is serving as US legal advisor to NAURA.