Orbotech
The Orbotech Logo
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| Public (NASDAQ: ORBK) | |
| Industry | Electronics |
| Founded | 1981 |
| Founder | Dr. Shlomo Barak Yochai Richter, Chairman |
| Headquarters | Yavne, Israel |
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Key people
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Yochai Richter, Chairman Asher Levy, CEO |
| Revenue |
 US$ 806.4 million (2016) |
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US$ 116.945 million (2016) |
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US$ 78.995 million (2016) |
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Number of employees
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2,500 (2017) |
| Divisions | Printed Circuit Boards Flat Panel Displays Semiconductor Devices |
| Subsidiaries | Orbograph Ltd. Orbotech LT Solar, LLC Frontline PCB Solutions Ltd. SPTS Technologies |
| Website | www.orbotech.com |
Orbotech Ltd. is a global technology company used in the manufacturing of consumer and industrial products throughout the electronics and adjacent industries. The company is a provider of yield enhancement and production solutions for electronics reading, writing and connecting, used by manufacturers of printed circuit boards, flat panel displays, advanced packaging, micro-electro-mechanical systems and other electronic components. The company is headquartered in Yavne, Israel and operates in North America, Europe, Japan and Asia-Pacific.
Orbotech was founded in 1981 by a team of engineers at Electro-Optical Industry Ltd. (El-Op) led by Shlomo Barak, who was developing electro-optical systems for military use, but saw commercial use for them as well. The company received financial backing from Uzia Galil of Elron Electronic Industries, an Israeli holding company. After 18 months of development, Optrotech was first to market with its first-generation Automated optical inspection product, although a number of other companies also had been working on their own automated inspection systems.
As the first to market, Optrotech was able to become the market leader in its field helping transform the printed circuit board industry, enabling companies to begin the first of a series of productivity improvements. The faster production times and greater volumes helped drive costs down, and the steadily dropping prices of printed circuit boards provided still further stimulation for the development of the global electronics and computer industries.
In 1983, a fellow Israeli company Orbot was founded by brothers Yochai and Kobi Richter,Shimon Ullman, Zvi Lapidot and Ami Caspi; with the financial backing of Ormat Industries. Orbot successfully launched competing automated optical inspection solutions and by 1986 overtook Optrotech as the AOI market leader.
In 1984 Optrotech had an initial public offering on NASDAQ raising $10 million USD. The funds raised enabled Optrotech to develop the next generation of its automated optical inspection technology and launched an effort to diversify its market, beginning development of its first CAD/CAM system.
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