Asyst Enters into Multiple Asset Purchase Agreements as Company Nears Chapter 11 Restructuring Completion

FREMONT, Calif.--(BUSINESS WIRE)--Asyst Technologies, Inc., a leading provider of semiconductor manufacturing productivity solutions, today announced it has entered into asset purchase agreements to sell its three business operations as it completes its restructuring plan. Crossing Automation has agreed to acquire Asyst’s Fab Automation assets with The PEER Group agreeing to acquire Asyst’s Connectivity Software assets. Murata Machinery Ltd. has agreed to acquire Asyst’s AMHS-related U.S. assets.

“Asyst's market-leading connectivity products are the basis for tens of thousands of production automation connections around the world. Leveraging their solid technology foundation and large installed base will enable us to more rapidly implement our strategy to bring manufacturing productivity solutions to both the semiconductor and photovoltaic industries.”

Each of the three pending transactions compliments the core capabilities of the respective purchaser and taken together they maximize the value of Asyst's assets and intellectual property for the Company's stakeholders.

Fab Automation

Crossing Automation, Inc., a designer and manufacturer of integrated vacuum wafer handling systems, has agreed to acquire the assets of Asyst's market-leading Fab Automation business, which designs and markets loadports, EFEMs, wafer sorters, and RFID devices for semiconductor and semiconductor equipment manufacturers.

“We have been looking for an entry point into the complimentary atmospheric wafer handling market since our official market entry last year,” stated Jed Keller, President and CEO for Crossing Automation. “The fact that we have been able to come to agreement to acquire the leading provider of such technology puts us in an extremely strong position to service the semiconductor equipment market with a complete set of automation solutions that help manufacturers improve reliability and drive down cost.”

Connectivity Software

The PEER Group Inc., a software development and consulting firm serving the semiconductor, automotive, electronics and life sciences industries, will be acquiring the Asyst Connectivity Software business.

Mike Kropp, PEER Group's Chief Operating Officer, said, “Asyst's market-leading connectivity products are the basis for tens of thousands of production automation connections around the world. Leveraging their solid technology foundation and large installed base will enable us to more rapidly implement our strategy to bring manufacturing productivity solutions to both the semiconductor and photovoltaic industries.”

Automated Material Handling

In addition, Asyst and Murata Machinery, Ltd. ("Muratec"), a diversified manufacturer of logistics and automation equipment and systems, have agreed that Muratec will purchase the US assets from Asyst's intellectual property associated with new products relating to the Company's Automated Material Handling Systems business. This transaction also includes the U.S. AMHS field service and installation business.

Paula LuPriore, Asyst's Chief Restructuring Officer, said, "These acquisitions will not only preserve our customers' investments but will also provide them with a great opportunity to take advantage of a broader set of capabilities without the need to replace existing systems. We are especially grateful to our customers and suppliers for the confidence and support they have demonstrated throughout Asyst's restructuring period to date. Beginning immediately, our energies will be focused on our global customer base and working with each of these partners to assure a smooth transition. Throughout the transition period and beyond, Asyst customers will continue to receive product licenses, upgrades, and technical support as provided in our existing contracts."

Each of the proposed transaction agreements is subject to final court approval in the Company's restructuring proceeding pursuant to Chapter 11 of the United States Bankruptcy Code pending in the United States Bankruptcy Court for the Northern District of California (Oakland) (Case Number 09-43246-RJN). The closing of these transactions is expected no later than the end of August 2009.

The Company directs interested parties to http://www.canb.uscourts.gov for copies of the proposed transaction agreements referenced above.

Forward Looking Statements

Except for statements of historical fact, the statements in this press release are forward-looking. Forward-looking statements include information concerning our Chapter 11 proceedings, and prospects for reorganizing, selling, liquidating, and/or managing our business, fulfilling our contractual obligations, and other goals in connection with the proceedings. All forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from the statements made. The risks and uncertainties related to the reorganization proceedings in the United States include risks that these proceedings could have a material negative impact on our global business, results of operations, financial condition, cash management capability, and relationships with employees, customers, suppliers, and contract manufacturers; we may not be able to obtain initial and subsequent court orders on desired terms, including our ability to use available cash to meet essential ongoing obligations; we may not have sufficient cash to fund our operations and may not be able to obtain additional financing on desired terms or court approvals required for such financing, if any, that may be available; a court having jurisdiction over our operations may issue orders or otherwise act or omit to act in a manner that adversely affects our operations; and Asyst may not obtain timely the requisite approvals of affected creditors or the applicable courts for our intended restructuring plan, leading to the liquidation of Asyst's assets; Asyst's common stock may have no future value and may be cancelled in connection with the bankruptcy proceeding; Asyst's common stock has been delisted from the NASDAQ Stock Market; during the bankruptcy proceedings, we do not expect to be able to file annual and quarterly reports with the SEC containing financial statements or other information required under the Securities Exchange Act of 1934; we do not currently expect that Asyst will reorganize and continue as a publicly traded company after completion of the bankruptcy proceedings; we may not be able to continue our operations successfully during the pendency of the bankruptcy proceedings, which could affect our ability to attract a buyer for the businesses or assets of the company (or the consideration a buyer would be willing to pay for the businesses or assets of the company); and the instability of the global economy and an inability to obtain debtor-in-possession financing in the credit markets may adversely affect prospects for achieving or sustaining essential operations during the course of an orderly disposition of our assets or a sale of the company's assets.

Other risks that may adversely affect our business, results of operations, financial condition and prospects for restructuring include, but are not limited to: our ability to achieve forecasted cost reductions, revenues, margins and profitability; failure to respond to rapid demand shifts; dependence on a few significant customers; the timing and scope of decisions by customers to transition and expand fabrication facilities and investment in fab automation equipment; ability to maintain or expand market share in our product segments; ability to improve gross margins through product cost reduction, volume increases, and supply chain initiatives; continued risks associated with the acceptance of new products and product capabilities; the volatility of semiconductor industry cycles and the depth and duration of industry downturns; the risk that customers will delay, reduce or cancel planned projects or bookings and thus delay the recognition, amount, or timing of our forecasted revenue or bookings; competition in the semiconductor equipment industry and specifically in AMHS; failure to retain and attract key employees; and other factors more fully detailed in Asyst's Annual Report on Forms 10-K and 10-K/A for the year ended March 31, 2008, and other reports subsequently filed with the Securities and Exchange Commission.