Aehr Test Systems (NASDAQ:AEHR), a global supplier of semiconductor test and burn-in equipment, announced a definitive agreement to purchase Incal Technology for $21 million on July 16. The acquisition will integrate Incal's high-power test solutions into Aehr's product offerings, targeting the AI semiconductor sector.

Incal Technology, a private company based in Fremont, California, specializes in reliability and burn-in test solutions for AI semiconductor manufacturers. Its products are designed to handle the ultra-high-power requirements of AI accelerators, GPUs, and high-performance computing processors, which can consume more than 1,000 watts of power.  This move positions Aehr to address the unique testing needs of these high-power devices, from engineering to high-volume production.

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Incal reported trailing 12-month revenue of approximately $12 million for the period ending June 30, 2024. The transaction is expected to be immediately accretive to Aehr's earnings and is set to close within the next 60 days, pending customary closing conditions.

In other recent news, Aehr Test Systems has secured orders worth $12.7 million from a key customer in the electric vehicle sector for multiple WaferPak™ Contactors. The company has also reported a strong fiscal 2024 with a fourth-quarter revenue of about $16.6 million and a GAAP net income of roughly $23.8 million. For the full fiscal year 2024, Aehr announced revenues of around $66.2 million and a GAAP net income of nearly $33.1 million. These figures surpass both the company's previous guidance and analyst consensus.

Despite a slowdown in electric vehicle demand impacting product orders, Aehr achieved record annual revenue, driven largely by the wafer level test and burn-in of silicon carbide power semiconductors used in EVs. The company's president and CEO, Gayn Erickson, anticipates continued revenue contributions from silicon carbide but also expects a diversification of bookings and revenue streams.

In addition to these developments, Aehr Test Systems experienced a significant year-over-year decline in its third-quarter revenue due to delayed customer orders and a reduction in semiconductor capital spending. Despite these challenges, Aehr Test Systems remains optimistic about its long-term prospects, citing opportunities in markets like silicon carbide, gallium nitride, silicon photonics, and memory semiconductors. 

Editor：Vicky

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