12-19-2025 News

HEUKING advises shareholders of Keystone Photonics GmbH on sale to stock listed FormFactor, Inc.

A team led by Dr. Katharina Prasuhn, partner at the Munich office of HEUKING, advised the shareholders of Keystone Photonics GmbH on the sale of their shares FormFactor, Inc.

Keystone Photonics is a pioneer in optical probing technology for silicon photonics (SiPh) and co-packaged optics (CPO) wafer testing. These technologies are key for next-generation data centers powering AI and high-performance computing – accelerating data communications to handle massive information loads with dramatically lower power consumption.

FormFactor is a leading provider of essential test and measurement technologies along the full IC life cycle – from characterization, modeling, reliability, and design de-bug, to qualification and production test. FormFactor is listed on the NASDAQ stock exchange.

Driven by demand for AI infrastructure, SiPh is forecast to surge at nearly 30% annual growth rate (MarketsandMarkets, 2025, Silicon Photonics Market – Global Forecast to 2029). The acquisition of Keystone Photonics strengthens FormFactor’s position at the forefront of this growth, extending its integrated test system leadership for advanced semiconductor packaging and leveraging its unique lab-to-fab position as SiPh and CPO manufacturers leap from concept to high-volume production.

Counsel to the shareholders of Keystone Photonics GmbH
HEUKING:
Dr. Katharina Prasuhn (lead), Munich,
Dr. Alexander Jüngst, Cologne,
Marilena Schöck (all corporate law / M&A), Munich,
Dr. Henrik Lay (tax law), Hamburg,
Dr. Lutz Martin Keppeler (IT law), Cologne,
Antje Münch (IP law), Stuttgart,
Michael Kreisler (foreign trade law), Berlin,
Dr. Laura Pütz (employment law), Cologne

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