Onto Innovation Invests $710M in Rigaku to Boost Semiconductor Process Control — Onto Innovation Inc.

Event summary

Onto Innovation to acquire 27% stake in Rigaku for $710M, deepening strategic partnership in semiconductor process control.
Companies integrating Onto’s Ai Diffract software with Rigaku’s CD-SAXS platforms for advanced logic and memory applications.
Transaction expected to close in H2 2026, with Onto nominating one director to Rigaku’s board.
Investment aims to accelerate joint IP development and coordinated go-to-market strategy.
Target market estimated at over $1B within five years by external analysts.

The big picture

Onto Innovation’s investment in Rigaku reflects the growing need for advanced process control solutions as semiconductor designs become more complex. The $710M stake underscores the strategic importance of X-ray technology in complementing optical metrology for next-generation semiconductor manufacturing. This partnership positions Onto to capitalize on the expanding market for advanced logic and memory applications, particularly as production moves to the 1nm technology node.

What we're watching

Integration Success: Whether Onto can effectively combine its optical metrology with Rigaku’s X-ray capabilities to address complex semiconductor structures.
Market Expansion: The pace at which the $1B+ X-ray process control market develops and how quickly the partnership can capture share.
Strategic Alignment: How the board representation and joint IP development will influence Rigaku’s long-term direction and Onto’s market position.