Veeco
Innovation. Performance. Brilliant.
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| Public | |
| Traded as |
NASDAQ: VECO S&P 600 Component |
| Industry | LED, Data Storage, Semiconductors, Power Electronics, Wireless, Optical, MEMS |
| Founded | 1945 |
| Headquarters | Plainview, New York, USA |
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Key people
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John Peeler, Chairman & CEO David Glass, CFO William Miller, EVP, Process Equipment |
| Revenue | $332.5 million (FY 2016) |
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Number of employees
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Approx. 900 |
| Website | www.veeco.com |
John Peeler, Chairman & CEO David Glass, CFO
Veeco Instruments, Inc. (NASDAQ: VECO) process equipment solutions enable the manufacture of LEDs., power electronics, hard drives, MEMS and wireless chips. Veeco is the market leader in MOCVD, MBE, Ion Beam and other advanced thin film process technologies.
Today's Veeco Instruments Inc. traces its history back to an earlier company which was incorporated in 1945 by two Manhattan Project scientists, Frank Raible and Al Nerken, who created the helium leak detector - the first was called MS-8. The Company's original name "Veeco" stood for Vacuum Electronic Equipment Company. In the 1960s, the original Veeco merged with Lambda, a manufacturer of power supplies, and in the late 1980s was purchased by a British company named Unitech.
In 1990, Edward H. Braun, then COO of Veeco, and a group of senior company executives purchased Veeco's instrument business from Unitech in a management buy-out. The company again used the Veeco Instruments trade name and completed an initial public offering on the Nasdaq National Market in 1994 (NASDAQ: VECO) -- at the time Veeco's sales were approximately $30 million.
Since the management buy-out and IPO, Mr. Braun, as Chairman and Chief Executive Officer, has led the company through a transformation focused on supplying equipment to information age industries. Veeco has grown both through internal development and strategic acquisitions—the Company has completed over a dozen acquisitions to date.
In July 2007 Mr. Braun, aged 68, became Chairman of the Board of Veeco, with John R. Peeler, 52, joining the Company as Chief Executive Officer. Mr. Peeler was formerly President of JDSU’s (NASDAQ: JDSU) Communications Test and Measurement Division, its largest and most profitable business segment.
In 2008, Veeco settled the patent litigation which it had brought against Asylum Research Corporation in 2003.
In October 2010, Veeco announced the sale of its metrology business to Bruker Corporation in a cash deal for $229.4 million. Veeco is now solely focused on supplying process equipment to the LED, solar, data storage and wireless market.
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