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Semiconductor maker inks huge manufacturing plant deal with UT

2706 Montopolis Dr. Image courtesy of Xceligent

2706 Montopolis Dr.
Image courtesy of Xceligent

A complicated lease that took two years to finalize has been completed with Novati Technologies, which has signed a deal for 150,000 square feet of space with the University of Texas Board of Regents.

The seven-year lease for a manufacturing plant near Montopolis Drive and East Oltorf Street includes options for up to 13 years.

Novati makes semiconductor materials that are used in large part by the United States government and specifically in the aerospace and defense industries. It grew revenue from $4.6 million in 2012 to $29.8 million in 2014 for an annual compounded growth rate of 154.2 percent, third-fastest among Austin companies with revenue of more than $10 million, according to ABJ research.

Justin Bayne, partner of SkylesBayne Co., represented Novati in its lengthy negotiations with UT. Financial details of the lease were not disclosed.

Click to read entire article: Semiconductor maker inks huge manufacturing plant deal with UT (Austin Business Journal, 03-01-16)

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