Yavne, Israel – March 22, 2010 – Orbotech Ltd. (NASDAQ: ORBK) today announced that they will partner with Mentor Graphics Corporation in the Frontline PCB Solutions Ltd. joint venture, following the recent acquisition of Valor Computerized Systems by Mentor Graphics.
Frontline PCB Solutions, the leading global provider of pre-production CAM (Computer Aided Manufacturing) and engineering software solutions for the bare Printed Circuit Board (PCB) industry, will be equally owned by Orbotech and Mentor Graphics; previously, Frontline was equally owned by Orbotech and Valor. As part of the new agreement with Mentor Graphics, Orbotech will continue to be the sole distributor of Frontline’s software products worldwide.
The partnership between Orbotech and Mentor Graphics is expected to be seamless for Frontline customers who will continue to receive the industry-leading CAM/Engineering software and support that they expect from Frontline. Going forward, they will also benefit from synergies emerging from the owner-companies’ core competencies leading to end-to-end integration. This includes enhanced interfaces and fast, effective communication between PCB computer-aided design (CAD), CAM and engineering and manufacturing, resulting in the production of PCBs with higher quality, shorter cycle times and greater cost-savings.
"Frontline is well-known for its worldwide leadership position in PCB CAM and engineering solutions,” stated Henry Potts, vice president and general manager of the Systems Design Division of Mentor Graphics. “Partnering with Orbotech in this joint venture enables Mentor Graphics to further extend its global reach into the PCB fabrication segment. We are looking forward to a mutually beneficial collaboration”.
Orbotech’s Corporate Executive Vice President and PCB Division President, Mr. Hanan Gino said: “We are pleased to welcome Mentor Graphics as our new partner in Frontline. The future developments that will be made possible by our partnership will enable us to better serve our customers and offer them solutions that answer their ever-increasing need for efficient, cost-effective and high-yield processing of even the most advanced PCB designs.”
Frontline PCB Solutions’ President, Mr. Avi Glasberg, added: “We are excited about this opportunity to continue providing Frontline customers with best-in-class solutions, while leveraging the extensive knowledge and expertise of all three companies to open the door to new capabilities including the achievement of significant improvements in Design/Fabrication data exchange processes.”
About Frontline PCB Solutions
Frontline PCB Solutions, an Orbotech and Mentor Graphics company, is the leading global provider of pre-production CAM and engineering software solutions for the PCB industry. With over two decades of industry experience, Frontline has the largest install-base of field-proven front-end solutions in the world and is committed to delivering cutting-edge products that increase yield and reduce pre-production costs.
Frontline provides a unified data format for all pre-production stages, a true open system approach and seamless data integrity. Frontline’s product suite provides comprehensive and scalable support for pre-production operations. Frontline’s products deliver both vertical and horizontal integration – opening a vertical data channel to the PCB Design and Assembly industries and integrating horizontally with fabrication equipment and machinery on the PCB production floor. Frontline’s R&D and management divisions are headquartered in Israel, with worldwide sales and support through Orbotech and Mentor Graphics subsidiary offices around the globe.
Company Contact:
Ronny Kovartovsky
Frontline PCB Solutions
Tel: +972-89322183 (108)
ronnyk@frontline-pcb.com
About Orbotech Ltd.
Orbotech is principally engaged in the design, development, manufacture, marketing and service of yield-enhancing and production solutions for specialized applications in the supply chain of the electronics industry. Orbotech’s products include automated optical inspection (AOI), production and process control systems for printed circuit boards (PCBs) and AOI, test and repair systems for flat panel displays (FPDs). The Company also markets computer-aided manufacturing and engineering (CAM) solutions for PCB production. In addition, through its subsidiary, Orbograph Ltd., the Company develops and markets character recognition solutions to banks and other financial institutions, and has developed a proprietary technology for web-based, location-independent data entry for check processing and forms processing; and, through its subsidiaries, Orbotech Medical Denmark A/S and Orbotech Medical Solutions Ltd., is engaged in the research and development, manufacture and sale of specialized products for application in medical nuclear imaging. Of Orbotech’s employees, more than one quarter are scientists and engineers, who integrate their multi-disciplinary knowledge, talents and skills to develop and provide sophisticated solutions and technologies designed to meet customers’ long-term needs. Orbotech maintains its headquarters and its primary research, development and manufacturing facilities in Israel, and more than 30 offices worldwide. Orbotech’s extensive network of marketing, sales and customer support teams throughout North America, Europe, the Pacific Rim, China and Japan deliver its knowledge and expertise directly to customers the world over. For more information visit www.orbotech.com.
Except for historical information, the matters discussed in this press release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These statements relate to, among other things, future prospects, developments and business strategies and involve certain risks and uncertainties. The words “anticipate,” “believe,” “could,” “will,” “plan,” “expect” and “would” and similar terms and phrases, including references to assumptions, have been used in this press release to identify forward-looking statements. These forward-looking statements are made based on management’s expectations and beliefs concerning future events affecting Orbotech and are subject to uncertainties and factors relating to its operations and business environment, all of which are difficult to predict and many of which are beyond the Company’s control. Many factors could cause the actual results to differ materially from those projected, including cyclicality in the industries in which the Company operates, a sustained continuation or worsening of the worldwide economic slowdown, the timing and strength of product and service offerings by the Company and its competitors, changes in business or pricing strategies, changes in the prevailing political and regulatory framework in which the relevant parties operate or in economic or technological trends or conditions, including currency fluctuations, inflation and consumer confidence, on a global, regional or national basis and other risks detailed in the Company’s SEC filings, including the Company’s Annual Report on Form 20-F for the year ended December 31, 2008. The Company assumes no obligation to update the information in this press release to reflect new information, future events or otherwise, except as required by law.
Company Contacts:
Adrian Auman Michelle Harnish
Corporate Vice President Investor Relations Marketing Communications Manager
and Special Projects Orbotech, Inc.
Orbotech Ltd. +1-978-901-5120
+972-8-942-3560
