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KLA builds process control, inspection and metrology systems used to manufacture semiconductor wafers, reticles, advanced packaging, printed circuit boards, and displays, and sells related software and services to chipmakers and electronics manufacturers. Its business model centers on capital equipment sales plus service and support contracts. Headquartered in Milpitas, California, KLA traces its origins to the 1997 KLA-Tencor merger and is publicly traded on NASDAQ under the ticker KLAC.