Onto Innovation Inc Dossier
Qualitative Analysis
Business overview
Onto Innovation Inc. is a global leader in the design, development, manufacture, and support of high-performance process control metrology, defect inspection, lithography, and data analysis systems. The company's comprehensive suite of hardware and software solutions serves leading microelectronics device manufacturers across the semiconductor value chain, including silicon wafer manufacturers, integrated circuit (IC) fabricators, and advanced packaging manufacturers. Onto's flagship platforms, such as the Dragonfly® inspection systems and Atlas® metrology systems, are critical in enabling high-volume manufacturing of advanced logic nodes, high-bandwidth memory (HBM), and 2.5D/3D heterogeneous packaging architectures.
Research as of 19 Jun 2026
Strategic Initiatives
Growth programs, investments, and their expected impact
Accelerating manufacturing and supply chain localization in Asia through close collaboration with suppliers and contract manufacturers.
Expected impact: Mitigates freight, duty, and tariff costs, increases overall manufacturing capacity, and improves responsiveness to regional customers.
Ramping up the newly qualified Dragonfly G5 inspection and metrology platform to support 2.5D advanced packaging and high-bandwidth memory (HBM) applications.
Expected impact: Expected to drive a projected 50%+ growth in advanced packaging revenue for fiscal year 2026.
Mergers, Acquisitions & Partnerships
Recent deals and strategic collaborations
Recent Acquisitions
Acquisition of key product lines (FAaST, CnCV, and MBIR) to strengthen inline wafer contamination monitoring, materials analysis, and surface charge metrology capabilities.
Strategic Partnerships
Provides Onto Innovation with access to a broader range of advanced X-ray technologies to advance next-generation process control and hybrid metrology solutions.
Terms: Onto Innovation will acquire a 27% ownership stake in Rigaku for approximately $710 million, partially funded by a $500 million bridge loan and a $1.3 billion convertible notes offering. Expected to generate over $7 million in annual dividend income.