Veeco
American manufacturer of process equipment for semiconductor, compound-semiconductor, data-storage and scientific applications.
Last updated August 31, 2026
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Overview
Veeco is a United States-based capital-equipment company that designs and manufactures systems used to process wafers, thin films and other advanced materials. Its equipment is sold primarily to semiconductor and compound-semiconductor manufacturers, but also serves data-storage, advanced-packaging, MEMS, RF-filter, photonics, display and research markets. The company is headquartered in Plainview, New York, and operates through an international network of engineering, manufacturing, sales and service locations. The company began in 1945 when scientists Frank Raible and Al Nerken developed a helium leak detector. The original name, Vacuum Electronic Equipment Company, was shortened to Veeco. Over time, the business moved from vacuum instrumentation into specialized processing equipment. A management buyout in 1990 restored the Veeco Instruments trade name and separated the operating business from its then-owner, Unitech. Veeco completed its initial public offering on Nasdaq in 1994 under the ticker VECO. Veeco expanded largely through acquisitions and technology development. Ion Tech added optical-coating capabilities in 1999, Applied EPI strengthened molecular beam epitaxy, and the 2003 Emcore acquisition established a larger position in metal-organic chemical vapor deposition. The company later added wet-processing capabilities through Solid State Equipment Co. and broadened its advanced-packaging and process-control portfolio through the 2017 acquisition of Ultratech, which also brought Cambridge Nanotech and atomic-layer-deposition technology. Epiluvac, acquired in 2023, extended Veeco's epitaxy portfolio toward silicon-carbide applications. Its product capabilities include laser spike annealing, photolithography, ion-beam etch and deposition, metal-organic chemical vapor deposition, wet wafer processing, molecular beam epitaxy, atomic layer deposition, physical vapor deposition, gas and vapor delivery, wafer dicing and lapping. These tools are used to create or modify thin films and device structures for applications such as advanced logic and memory, advanced packaging, LEDs, VCSELs, GaN power and RF devices, silicon-carbide electronics, magnetic memory, hard-disk drives and university materials research. Veeco's positioning is that of a specialized process-technology supplier rather than a general-purpose factory-automation company. Its systems are typically integrated into high-volume manufacturing lines or advanced research facilities where materials uniformity, process control, throughput and repeatability are important. The company has also invested in atomic-layer-deposition research and related process science. Its markets are connected to long-term technology trends including artificial intelligence, high-performance computing, cloud storage, 5G communications, autonomous vehicles, virtual and augmented reality, photonics and electrification. Veeco remains a listed, operating company. In October 2025, it announced an agreement to combine with Axcelis Technologies in an all-stock transaction. The proposed combination was described as valuing the merged business at approximately $4.4 billion, with Axcelis shareholders expected to own about 58 percent and Veeco shareholders about 42 percent; completion status is not established by the supplied material.
History
Veeco was founded in 1945 by Frank Raible and Al Nerken, who developed a helium leak detector. The name derived from Vacuum Electronic Equipment Company. The early business was associated with vacuum and electronic instrumentation, but the company gradually developed technologies applicable to semiconductor and advanced-materials processing. In the 1960s, the original Veeco merged with Lambda, a power-supply manufacturer. In the late 1980s, Unitech, a British company, acquired the business. In 1990, Edward H. Braun, then Veeco's chief operating officer, led a management group that purchased the instrument business from Unitech. The business resumed using the Veeco Instruments name and pursued a more focused strategy in specialized capital equipment. Veeco went public on the Nasdaq National Market in 1994 under the symbol VECO. The offering reportedly generated $27.5 million in net proceeds. After the IPO, the company used acquisitions and internal development to build a portfolio spanning thin-film deposition, epitaxy, optical coatings, wafer processing and process control. Ion Tech was acquired in 1999, giving Veeco a stronger presence in optical coating. Applied EPI followed in 2001 and became the foundation of the company's molecular-beam-epitaxy group. In 2003, Veeco acquired Emcore, adding metal-organic chemical vapor deposition technologies used in LED, VCSEL and photonics manufacturing. Veeco subsequently invested in atomic-layer-deposition research and published technical work in the field over the 2007–2018 period. Leadership changed in 2007 when Braun became board chairman and John R. Peeler joined as chief executive officer. In 2008, Veeco resolved patent litigation involving Asylum Research. In 2010, it sold its metrology operation to Bruker. Peeler became board chairman in 2012. The acquisition of Solid State Equipment Co. in 2014 expanded Veeco's wet etch, clean and surface-preparation capabilities. On May 26, 2017, Veeco completed its acquisition of Ultratech. That transaction added lithography, laser spike annealing and three-dimensional inspection products for advanced packaging and high-volume logic and memory manufacturing. Cambridge Nanotech, an ALD specialist associated with Ultratech, also became part of the expanded portfolio. Bill Miller was named chief executive officer in October 2018 after serving as president and leading growth initiatives across Veeco's business units and global operations. In 2020, the board made governance changes intended to increase gender diversity. Peeler retired from the board, Richard D'Amore became chairman, and Mary Jane Raymond joined the Audit Committee. Veeco's later development emphasized semiconductor and compound-semiconductor markets while maintaining exposure to data storage and scientific research. In 2021, it shipped the first LSA101 laser spike annealing system. In February 2023, it announced the acquisition of Epiluvac AB, a Lund-based manufacturer of CVD epitaxy systems relevant to silicon-carbide devices and electric-vehicle power applications. In October 2025, Veeco and Axcelis Technologies announced an all-stock merger agreement. The proposed transaction would combine two semiconductor-equipment businesses and was described as having an approximate value of $4.4 billion. The supplied material does not establish whether the transaction closed, so Veeco's post-announcement corporate status requires verification.
- 2025
Proposed Axcelis merger
[1]Veeco announces an all-stock merger agreement with Axcelis Technologies.
- 2023
Epiluvac acquisition
[1]Veeco acquires Epiluvac to expand CVD epitaxy capabilities for silicon-carbide applications.
- 2021
First LSA101 shipment
[1]Veeco ships its first LSA101 Laser Spike Annealing System.
- 2017
Ultratech acquisition
[1]Veeco adds advanced-packaging lithography, laser annealing, inspection and ALD capabilities.
- 2014
Solid State Equipment acquisition
[1]The deal adds solvent-based wet etch and cleaning technologies.
- 2010
Metrology business divestiture
[1]Veeco sells its metrology business to Bruker.
- 2003
Emcore acquisition
[1]The transaction strengthens Veeco's MOCVD business for LEDs, VCSELs and photonics.
- 2001
Applied EPI acquisition
[1]Applied EPI becomes the foundation of Veeco's molecular-beam-epitaxy business.
- 1999
Ion Tech acquisition
[1]The acquisition expands Veeco into optical-coating equipment.
- 1994
Initial public offering
[1]Veeco completes its Nasdaq IPO under the ticker VECO.
Products and positioning
Specialized semiconductor and advanced-materials process-equipment supplier focused on deposition, etch, annealing, lithography, cleaning and related wafer-processing technologies.
Compound-semiconductor deposition
MOCVD systems
Veeco's metal-organic chemical vapor deposition systems grow III-V compound-semiconductor films, including gallium nitride, gallium arsenide and indium phosphide. They support LED, mini-LED, micro-LED, VCSEL, RF and power-device production, where uniform epitaxial layers and repeatable deposition are essential.
Epitaxy and research equipment
Molecular beam epitaxy systems
MBE systems deposit highly controlled crystalline layers for compound-semiconductor devices and materials research. They are used by industrial laboratories and universities for structures involving materials such as gallium arsenide and related systems, as well as lasers, infrared sensors and experimental devices.
Semiconductor thermal processing
Laser spike annealing systems
Laser spike annealing equipment rapidly heats selected wafer regions for controlled dopant activation and other semiconductor process steps. Veeco's LSA systems target advanced logic and memory manufacturing, where tight thermal budgets and localized processing can help preserve device structures.
Etch and thin-film processing
Ion beam etch and deposition systems
Ion-beam systems remove or deposit material with directional control and are used in magnetic-memory, RF-filter, data-storage and other thin-film applications. Veeco equipment supports processes including ion-beam etching, ion-beam deposition and related physical-vapor-deposition operations.
Thin-film deposition
Atomic layer deposition systems
ALD systems build films one controlled chemical layer at a time, enabling precise thickness and conformality. Veeco's ALD capabilities serve semiconductor, solar, medical and advanced-materials applications and were expanded through the Cambridge Nanotech business acquired with Ultratech.
Packaging lithography and wet processing
Advanced packaging systems
This portfolio includes lithography, wet etch and surface-preparation systems for copper-pillar, fan-out wafer-level packaging, through-silicon vias, silicon interposers, redistribution layers and under-bump metallization. The equipment is intended for high-volume packaging and heterogeneous-integration processes.
Wafer cleaning and surface preparation
Wet etch and clean systems
Veeco supplies wet-processing systems for film etching, photoresist and dry-film removal, flux cleaning, particle removal, TSV cleaning and metal lift-off. These tools serve semiconductor, compound-semiconductor, MEMS and RF-filter manufacturing.
Supporting process equipment
Dicing, lapping and gas-delivery systems
Veeco's supporting equipment includes wafer dicing and lapping systems and gas- and vapor-delivery technologies. These products support substrate preparation, thin-film processing and data-storage manufacturing alongside the company's deposition and etch platforms.
Brand decisions
2025
Proposed combination with Axcelis TechnologiesM&ABackground
Veeco and Axcelis announced a combination intended to unite complementary semiconductor-equipment businesses.
Action taken
The companies agreed to an all-stock merger reportedly valued at approximately $4.4 billion, with expected ownership of about 58 percent for Axcelis shareholders and 42 percent for Veeco shareholders.
Aftermath
The supplied material does not confirm closing or the resulting corporate structure.
Announced transaction value. Approximately 4.4 billion USD (October 2025 announcement)
2023
Epiluvac acquisitionM&ABackground
Demand for silicon-carbide power devices was creating opportunities in epitaxial-wafer production.
Action taken
Veeco acquired Epiluvac AB, a Swedish maker of CVD epitaxy systems.
Aftermath
The deal strengthened Veeco's position in equipment for silicon-carbide and electric-vehicle power applications.
2017
Ultratech acquisitionM&ABackground
Veeco sought to expand beyond deposition into process control and advanced packaging.
Action taken
Veeco acquired Ultratech, adding lithography, laser spike annealing, three-dimensional inspection and Cambridge Nanotech ALD capabilities.
Aftermath
The transaction broadened Veeco's addressable markets in logic, memory and advanced packaging.
2010
Sale of metrology businessStrategyBackground
Veeco was refining its portfolio around process equipment and related technologies.
Action taken
The company sold its metrology business to Bruker in a cash transaction reported at $229.4 million.
Aftermath
The divestiture concentrated Veeco more heavily on deposition and wafer-processing systems.
Transaction value. 229.4 million USD (2010)
1994
Public-market expansionStrategyBackground
After the 1990 management buyout, Veeco needed capital to develop and acquire specialized process-equipment technologies.
Action taken
Veeco completed an initial public offering on Nasdaq under the symbol VECO.
Aftermath
The listing supported a long period of acquisition-led expansion into deposition, epitaxy, wet processing and advanced packaging.
Recent events
- Unconfirmed
Veeco withdraws first-quarter 2020 guidance[4]
Veeco withdrew its previously issued first-quarter 2020 guidance, citing uncertainty and possible operational disruption related to California’s shelter-in-place directives.
Veeco launches Lumina MOCVD platform[5]
Veeco launched the Lumina metal-organic chemical vapor deposition platform, including the Lumina R480 and R480S models, for photonics applications.
Sources6 sources
- 1Veecoen.wikipedia.org
- 2Veeco official websiteveeco.com
- 3Tufts University Epitaxy Core capabilitiesengineering.tufts.edu
- 4Veeco撤回2020年第一季度业绩指引semiconductor-today.com
- 5Veeco推出Lumina MOCVD平台semiconductor-today.com
- 6Veeco revises Q1 revenue guidance from $95-120m to $100-105m due to COVID-19semiconductor-today.com
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