test equipment founded 1983 headquarters beaverton oregon usa 45 27 13 n 122 47 28 w 45.45372 n 122.791043 w 45.45372 ; 122.791043 coordinates 45 27 13 n 122 47 28 w 45.45372 n 122.791043 w 45.45372 ; 122.791043 revenue 113 million 2012 1 net income 6.1 million 2012 1 number of employees 401 2010 2 website cmicro.com cascade microtech is a semiconductor test equipment manufacturer based in beaverton in the portland metropolitan area of the united states . founded in 1983 the oregon based company employs nearly 400 people . formerly publicly traded company as cscd on the nasdaq the company is now a subsidiary of formfactor . contents 1 history 2 products 3 see also 4 references history edit in the early 1980s eric w. strid and k. reed gleason employees at tektronix tek attempted to get their bosses to make a microwave wafer probe for testing microchips . 3 management declined but did license the technology to the two leading to the formation of cascade microtech in 1982 on a part time basis . 3 4 dale e. carlton joined the company as well and in 1983 they produced their first product . 3 the founders had also worked for tek spin off of triquint semiconductor . 5 the company turned profitable in 1984 and all left tektronix by 1985 . 3 in may 1986 the young company leased a 1 200 square foot 110 m2 office in the beaverton tech center . 6 former company headquarters in hillsboro by 1989 the company had grown to 55 employees and were based in beaverton oregon near the tek headquarters . 3 the owners went without compensation the first three years the company was in business as they self financed the venture before receiving 2.7 million in venture capital from hewlett packard in 1990 . 5 cascade began working towards an initial public stock offering ipo as early as 1997 . 7 at that time they expected to file for the ipo in 1998 and would use the money in part to help expand production . 7 as of march 1997 the company employed 185 people and their biggest customers were fujitsu national semiconductor and texas instruments . 7 in 1999 the company received another 16 million in funding which at that time the company had annual sales of 52 million . 5 the company raised additional 10 million in capital in 2000 by selling equity to teachers insurance and annuity association . 8 by 2001 the company employed 330 people and was still preparing for an initial public offering on its stock . 5 the company then filed to go public in 2000 but dropped the plans in 2002 . 9 by 2001 cascade had signed on to move into a new headquarters in hillsboro s amberglen business center 10 where they occupied 100 000 square feet 9 300 m2 by 2004 . 11 the company was originally located at the offices of triquint their former employer . 5 cascade opened offices in singapore in 2003 followed by offices in taiwan and china in 2006 . 12 after years of delay cascade microtech filed for an ipo with the united states securities & exchange commission in march 2004 hoping to raise 85 million . 13 14 the company employed 243 and had revenues of 50.6 million when they filed for the ipo and major customers included intel and infineon . 13 besides offering new shares shares held by existing owners such as agilent technologies were also offered for a total of 5.3 million shares being offered to the public . 15 on december 15 2004 the company started trading on the nasdaq market with an initial price of 14 per share under the ticker symbol cscd . 16 the offering raised 72 million of which 43 million went to cascade with the reminder to existing shareholders . 16 17 a probe station manufactured by cascade cascade purchased socket maker gryphics inc. in 2007 for 13.7 million and nearly 850 000 in cascade microtech stock . 18 19 chief executive officer ceo and co founder eric strid stepped down as ceo but remained as the company chairman and became the chief technical officer in january 2008 . 4 geoff wild took over as ceo at that time 4 but resigned in december 2009 . 20 21 interim ceo paul carlson led the company until former merix corp. ceo michael burger was hired in june 2010 and took office in july . 21 22 in january 2010 cascade purchased suss microtec ag s chip testing division for 9.8 million . 23 that division had been cascade s largest rival . 23 the company s revenue for the third quarter in 2010 was 25.3 million a record for the company . 24 however cascade still had a net loss of 400 000 . 24 cascade posted revenues of 113 for fiscal year 2012 and had its first profit that year since 2007 . 1 in october 2013 the company bought att advanced temperature test systems in a cash and stock deal valued at 27.7 million . 1 the company announced it was sold to formfactor in february 2016 for 352 million with the deal closing in june 2016 . 25 26 products edit cascade microtech manufactures testing equipment for the semiconductor industry . 5 these probes test the chips before the chips are cut from the wafers silicon or gallium arsenide ensuring the chips do what they are designed to accomplish . 3 8 production is performed at the company s facilities in beaverton dresden and brooklyn park minnesota . 2 see also edit silicon forest list of companies based in oregon references edit a b c d rogoway mike october 2 2013 . cascade microtech pays 27.7 million for german company . the oregonian . retrieved 4 october 2013 . a b 2010 annual report . sec filings and financial reports . cascade microtech inc. retrieved october 2 2011 . a b c d e f colby richard june 12 1989 . cascade microtech passes test . the oregonian . p. d10 . a b c dimesio robbie december 6 2007 . cascade microtech names new ceo . the oregonian . a b c d e f goldfield robert may 6 2001 . vc investment not the only way to raise funds . portland business journal . real estate notes . the oregonian . may 18 1986 . p. 74 . a b c marks anita march 23 1997 . booming cascade microtech may probe ipo market in 98 . portland business journal . a b francis mike february 11 2000 . beaverton firm makes equity deal . the oregonian . p. b2 . earnshaw aliza october 31 2004 . cascade joins growing list of tech ipos . portland business journal . stout heidi j. september 9 2001 . dirt piles tell a success story in sunset corridor . portland business journal . stout heidi j. march 28 2004 . real estate recovery takes root on west side . portland business journal . earnshaw aliza july 5 2006 . cascade microtech expanding in asia . portland business journal . a b cascade microtech files for ipo . portland business journal . march 4 2004 . francis mike march 11 2004 . cascade microtech prepares again for initial public offering . the oregonian . p. west zoner 1 . reeves scott november 5 2004 . ipo outlook semi enthusiastic for semiconductors . forbes . a b sickinger ted december 16 2004 . cascade microtech public after 4 year wait . the oregonian . p. d1 . cascade microtech ipo seeks to raise 74m . portland business journal . december 15 2004 . cascade microtech acquires socket product manufacturer gryphics inc. . articles . semiconductor online . april 4 2007 . earnshaw aliza july 24 2007 . cascade microtech reports lower profits on higher sales . portland business journal . lapedus mark december 2 2009 . cascade microtech s ceo resigns . ee times . a b rogoway mike december 2 2009 . cascade microtech s ceo quits . the oregonian . rogoway mike june 17 2010 . merix s ex ceo is cascade microtech s new chief . the oregonian . a b siemers erik june 27 2010 . cascade seeks end to small time status . portland business journal . a b stevens suzanne november 2 2010 . cascade microtech posts record revenue . portland business journal . rogoway mike february 4 2016 . oregon s selling spree resumes cascade microtech acquired for 352 million . the oregonian oregonlive . retrieved 5 february 2016 . spencer malia june 24 2016 . cascade microtech acquisition completed portland business journal . portland business journal . retrieved 1 july 2016 . v t e companies formerly based in oregon moved out of state georgia pacific integra telecom 2014 jeld wen 2015 louisiana pacific acquired by out of state entities camera world 1997 cascade microtech 2016 fred meyer freightliner harry & david 2014 j. k. gill lacrosse footwear 2012 mathstar 2010 mccormick & schmick s 2012 meier & frank merix 2010 oregon steel mills planar systems 2015 sawyer s 1966 sequent computer systems stancorp financial 2016 tektronix 2007 u.s. bancorp west coast bank 2012 willamette industries 2002 defunct or out of business consolidated freightways emporium 2003 evergreen international aviation floating point systems g.i. joe s 2009 hollywood video 2010 sprouse reitz 1994 white stag manufacturing retrieved from https en.wikipedia.org w index.php title cascade microtech & oldid 727753773 categories companies based in beaverton oregoncompanies established in 1983assembly and test semiconductor companies1983 establishments in oregonhidden categories coordinates not on 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