Monday, October 6, 2008

Tom Walsh replaces Post as Nexx Systems CEO

By Mass High Tech Staff

Billerica-based Nexx Systems Inc., which makes processing equipment for flip chip and advanced packaging applications for chip makers, has found a new president and CEO in 20-year semiconductor market veteran Tom Walsh. Walsh replaces Richard Post, who will continue to serve as chairman of the board.

Prior to joining Nexx Systems, the new CEO worked for Novellus Systems. Before then, he held senior-level roles in product development, product management and manufacturing at IBM Corp.

Nexx Systems produces the Apollo, Nimbus and Stratus process equipment for varying deposition of metals.

The company reports having closed a $10.7 million equity funding round in September. Las December, Nexx Systems made significant growth moves as well, relocating to the current 39,000-square-foot, Billerica site, a facility almost twice the size of its previous one. It also reported $2.5 million in Series C funding from existing California-based investors Sigma Partners and Enterprise Venture Partners, which brought Nexx Systems’ total amount raised to more than $22 million at the time.

Since former CEO Post spun Nexx Systems out of his previous employer, Wilmington’s MKS Instruments Inc., in 2001, the company has been focused on developing back-end production equipment for semiconductor manufacturers. It was formed from MKS Instruments’ purchase of ASTeX Group and Nimbus products.