FormFactor acquires High Precision Devices

BOULDER — A California company has acquired Boulder-based High Precision Devices Inc., a maker of precision scientific instruments.

FormFactor Inc. (Nasdaq: FORM), based in Livermore, California, completed its acquisition of HPD, which provides scientific instruments, including cryogenic probe systems and cryostats, capable of extreme low temperatures. The technology is used in development of quantum computing, superconducting computing and ultra-sensitve sensor markets.

FormFactor said in a press release that the acquisition will complement its existing line of cryogenic wafer probe systems and cryogenic engineering probes.

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“We are pleased to welcome HPD’s team to FormFactor and are excited about adding their expertise, technologies and products in cryogenic test and measurement, an area that is evolving rapidly with revolutionary applications like quantum computing,” FormFactor CEO Mike Slessor said in a prepared statement.

FormFactor Thursday reported third-quarter revenue of $178 million, compared with $140.6 million for the same period a year ago. Net income totaled $22.9 million, up from $8.3 million for the third quarter of 2019.

The HPD acquisition occurred after the end of the third quarter.