Mark Miller

David Duley

Auguste Richard

Ross Cole

Charles Shi

Gus Richard

Richard Schafer

Thomas O’Malley

Wei Mok

Yu Shi

- Veeco Instruments Inc. announced that a leading optical communications laser manufacturer placed an order for multiple **Lumina™ metal organic chemical vapor deposition (MOCVD) systems**.  **[103145_8b643b29697a4540a496baa725ab0ef0_0]** 
- The Lumina™ systems will serve as the customer’s production tool of record for **indium phosphide (InP) epitaxy** on both 4-inch and 6-inch wafers, used to fabricate InP lasers for optical communication solutions in the datacom industry.  **[103145_8b643b29697a4540a496baa725ab0ef0_0]** 
- This order reinforces Veeco's presence in the **rapidly growing laser market for advanced optical transceivers**, which supports increasingly complex AI workloads at hyperscale data centers.  **[103145_8b643b29697a4540a496baa725ab0ef0_0]** 
- The overall market for optical transceivers in the datacom industry is projected to grow at a **13% CAGR from $8.1 billion in 2024 to $14.7 billion in 2029**.  **[103145_8b643b29697a4540a496baa725ab0ef0_0]**

Veeco Instruments Secures Lumina MOCVD Systems Order

- Veeco Instruments **launched its new Lumina+ metal-organic chemical vapor deposition (MOCVD) system** and received its first commercial multi-tool order from **Rocket Lab Corporation**.  **[103145_6cc6eb73ef064d2cbfe7e1d9b6472a97_0]** 
- Rocket Lab purchased the systems to **expand domestic production of compound semiconductor products** as part of a project under the Department of Commerce’s CHIPS and Science Act.  **[103145_6cc6eb73ef064d2cbfe7e1d9b6472a97_0]** 
- The Lumina+ system is designed for **cost-effective scaling**, offering the **largest As/P batch size**, **best-in-class throughput**, and **lowest cost per wafer** in the MOCVD industry.  **[103145_6cc6eb73ef064d2cbfe7e1d9b6472a97_0]** 
- This investment will enable Rocket Lab to **double its production capacity** for space-grade solar cells and serve as a domestic source for compound semiconductor and electro-optical device technologies.  **[103145_6cc6eb73ef064d2cbfe7e1d9b6472a97_0]**

Veeco Launches Lumina+ MOCVD System, Secures Rocket Lab Order

- Excelis and Veeco announced a **transformational all-stock combination**, with Excelis shareholders owning approximately **58%** and Veeco shareholders **42%** of the combined company.  **[103145_2163604_1]** **[103145_2163604_6]** 
- On a 2024 pro forma basis, the combined company is projected to have **$1.7 billion** in revenue, a **44%** gross margin, and **$387 million** in adjusted EBITDA, with over **$900 million** in combined cash.  **[103145_2163604_6]**  The transaction is expected to be accretive to non-GAAP EPS within the first year post-closing, with **$35 million** in estimated run-rate cost synergies within 24 months.  **[103145_2163604_1]** **[103145_2163604_6]** 
- The merger aims to create a leading semiconductor equipment company by leveraging complementary technologies and expanding into high-growth markets such as **AI, electrification, advanced packaging, silicon carbide, and gallium nitride**.  **[103145_2163604_1]** **[103145_2163604_4]** **[103145_2163604_9]** **[103145_2163604_10]** 
- The combined company will be headquartered in **Beverly, Massachusetts**, and will assume a new name, ticker symbol, and brand.  **[103145_2163604_6]** 
- The transaction is expected to close in the **second half of 2026**, pending shareholder and regulatory approvals.  **[103145_2163604_6]**

Excelis and Veeco Instruments Announce Merger

- Axcelis and Veeco have announced a proposed **all-stock transaction** where Veeco shareholders will receive **0.3575 Axcelis shares** for each Veeco share, representing an enterprise value of approximately **$4.4 billion** based on closing share prices on September 30, 2025, and outstanding debt on June 30, 2025.  **[103145_2163523:21]** 
- The combined company is projected to achieve **$1.7 billion in revenue** and **$387 million in Adjusted EBITDA** for fiscal year 2024, with a pro forma cash position of **over $900 million**.  **[103145_2163523:16]** **[103145_2163523:23]** 
- The merger is expected to be **accretive to non-GAAP EPS within 12 months** post-closing and realize **$35 million in annual run-rate cost synergies** within 24 months.  **[103145_2163523:21]** 
- Russell Low will serve as CEO and James Coogan as CFO of the combined entity, which will be headquartered in **Beverly, Massachusetts**, with the transaction anticipated to close in the **second half of 2026**.  **[103145_2163523:21]**

Veeco Instruments and Axcelis Announce Proposed All-Stock Merger

- Axcelis Technologies, Inc. and Veeco Instruments Inc. have entered into a definitive **all-stock merger agreement** dated **September 30, 2025**, to combine, creating a semiconductor equipment company with an expected enterprise value of approximately **$4.4 billion**.  **[103145_0001104659-25-095312_tm2527554d1_ex2-1.htm:0]** **[103145_0001104659-25-095312_tm2527554d1_ex99-1.htm:1]** 
- Under the terms of the agreement, Veeco shareholders will receive **0.3575 Axcelis shares** for each share of Veeco they own, resulting in Axcelis shareholders owning approximately **58.4%** and Veeco shareholders **41.6%** of the combined company on a fully diluted basis.  **[103145_0001104659-25-095312_tm2527554d1_ex99-1.htm:1]** **[103145_0001104659-25-095312_tm2527554d1_8k.htm:1]** **[103145_0001104659-25-095312_tm2527554d1_ex2-1.htm:10]** 
- On a pro-forma basis for Fiscal Year 2024, the combined company generated **$1.7 billion** in revenue, a **44%** non-GAAP gross margin, and **$387 million** in adjusted EBITDA.  **[103145_0001104659-25-095312_tm2527554d1_ex99-1.htm:1]** 
- The transaction is expected to generate **$35 million** in annual run-rate cost synergies within 24 months and be accretive to non-GAAP earnings per share within the first year post-closing.  **[103145_0001104659-25-095312_tm2527554d1_ex99-1.htm:1]** **[103145_0001104659-25-095312_tm2527554d1_ex99-1.htm:2]** 
- The merger is projected to close in the **second half of 2026**, subject to shareholder and regulatory approvals.  **[103145_0001104659-25-095312_tm2527554d1_ex99-1.htm:2]**

VEECO INSTRUMENTS (VECO)