Orbotech Ltd. is a global technology company used in the manufacturing of consumer and industrial products throughout the electronics and adjacent industries. The company is a provider of yield enhancement and production solutions for electronics reading, writing and connecting, used by manufacturers of printed circuit boards, flat panel displays, advanced packaging, micro-electro-mechanical systems and other electronic components. The company is headquartered in Yavne, Israel and operates in North America, Europe, Japan and Asia-Pacific. Orbotech was founded in 1981 by a team of engineers at Electro-Optical Industry Ltd. (El-Op) led by Shlomo Barak, who was developing electro-optical systems for military use, but saw commercial use for them as well. The company received financial backing from Uzia Galil of Elron Electronic Industries, an Israeli holding company. After 18 months of development, Optrotech was first to market with its first-generation Automated optical inspection product, although a number of other companies also had been working on their own automated inspection systems. As the first to market, Optrotech was able to become the market leader in its field helping transform the printed circuit board industry, enabling companies to begin the first of a series of productivity improvements. The faster production times and greater volumes helped drive costs down, and the steadily dropping prices of printed circuit boards provided still further stimulation for the development of the global electronics and computer industries.