Oramir Semiconductor Equipment designed a laser-based technology for the semiconductor manufacturing industry. The company's system, the L-Stripper, carried out photoresist stripping during the production of semiconductor wafers. Photoresist is a light-sensitive coating that is applied to a substrate or board as part of the process of etching circuitry onto a chip, but needs to be totally removed by the end of the manufacturing process.

Exit: Oramir was acquired by Applied Materials (NASDAQ: AMAT) in June 2001 following a period of around two years in which the companies worked together. Applied Materials had also invested in Oramir.