Lam Research Completes Acquisition of Coventor, a Leader in Simulation and Modeling Solutions

FREMONT, Calif., Aug. 31, 2017 -- Lam Research Corporation (Nasdaq:LRCX), a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry, today announced that it has completed the acquisition of Coventor, Inc., a leading provider of simulation and modeling solutions for semiconductor process technology, micro-electromechanical systems (MEMS), and the Internet of Things (IoT). The combination of Lam and Coventor supports Lam’s advanced process control vision and is expected to accelerate process integration simulation to increase the value of virtual processing, further enabling chipmakers to address some of their most significant technical challenges.

“We see a strong synergy between our modeling capability and Lam’s desire to enable virtual experimentation of process development for customers and within its business units,” said Mike Jamiolkowski, president and CEO of Coventor. “We believe that our combination will increase the value we can deliver to our customers by providing more capability and improving their time to market.”

Customers rely on Coventor software and expertise to help predict the structures and behavior of designs before committing to time-consuming and costly wafer fabrication. This fast and accurate “virtual fabrication” allows technology developers and manufacturers to understand process variation effects early in the development timeframe and reduce the number of silicon learning cycles required to bring a successful product to market.

“We are looking forward to Coventor being a part of Lam and increasing the value and contribution we jointly provide to our customers,” said Rick Gottscho, executive vice president and corporate chief technical officer of Lam Research. “To keep pace with future design requirements, new technologies such as virtual fabrication and processing will be crucial to improve time to market. Together, our collective goal is to deliver more simulation, more virtual fabrication, and an overall increase in computational techniques to support the development of next-generation transistors, memories, MEMS and IoT devices.”

About Coventor
Coventor, Inc. is a market leader in automated design solutions for developing semiconductor process technology, as well as micro-electromechanical systems (MEMS). Coventor serves a worldwide customer base of integrated device manufacturers, memory suppliers, fabless design houses, independent foundries, and R&D organizations. Its SEMulator3D modeling and analysis platform is used for fast and accurate “virtual fabrication” of advanced manufacturing processes, allowing engineers to understand manufacturing effects early in the development process and reduce time-consuming and costly silicon learning cycles. Its MEMS design solutions are used to develop MEMS-based products for automotive, aerospace, industrial, defense, and consumer electronics applications, including smartphones, tablets, and gaming systems. The company has offices in Cary, North Carolina, San Jose, California; Waltham, Massachusetts; Paris, France; Tokyo, Japan; Hsinchu, Taiwan; and Seoul, South Korea. More information is available at http://www.coventor.com.

About Lam Research
Lam Research Corp. is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. As a trusted, collaborative partner to the world's leading semiconductor companies, Lam combines superior systems engineering capability, technology leadership, and unwavering commitment to customer success to accelerate innovation through enhanced device performance. In fact, today, nearly every advanced chip is built with Lam technology. Lam Research (Nasdaq:LRCX) is a FORTUNE 500® company headquartered in Fremont, Calif., with operations around the globe. Learn more at www.lamresearch.com. (LRCX-B)

Forward Looking Statements
Statements made in this press release that are not of historical fact are forward-looking statements and are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to, but are not limited to, statements related to the expectations for the advancement of process integration simulation,  the value that can be delivered to customers as the result of the acquisition, the ability of Lam’s customers to improve their time to market, how customers might rely on and use the Coventor technology, the future needs for virtual fabrication and processing, the goals of future collaborative efforts, and the market success or market share gains of Lam’s or Coventor’s products or technology. Some important factors that may affect these forward-looking statements include advances in technology, new products and services offered by Lam’s competitors, known and unknown barriers to technical progress and the financial condition of semiconductor manufacturers and the economy as a whole. Such forward-looking statements are based on current beliefs and expectations and are subject to risks, uncertainties and changes in condition, significance, value and effect, including those discussed in Lam’s annual report on Form 10-K under the heading “Risk Factors” as well as in other documents filed by Lam with the Securities and Exchange Commission. Such risks, uncertainties and changes in condition, significance, value and effect could cause actual results to differ materially from those expressed herein and in ways not readily foreseeable. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the dates made and of information reasonably known to Lam as of the dates the statements were made. We undertake no obligation to release the results of any revisions to these forward-looking statements which may be made to reflect events or circumstances which occur after the date hereof or to reflect the occurrence or effect of anticipated or unanticipated events.

Company Contacts: 
Kyra Whitten
Corporate Communications 
510-572-5241
email: [email protected]

Satya Kumar
Investor Relations
510-572-1615
email: [email protected]