market. Growth by diversification and acquisitions In 1995, Orbotech adapted its technology to provide automatic check processing solutions for financial institutions, launching a new subsidiary Orbograph Ltd. In 1996, Orbotech established a joint venture with Germany's Jenoptik AG, to develop a laser-based direct imaging system for the production of PCB prototypes. The partnership came under full ownership of Orbotech in 2000. In 1997, Orbotech acquired the AOI business of Germany's W. Schuh GmbH, a company that specialized in the production of assembled printed circuit board inspection equipment. In 1998, Orbotech boosted its presence in Japan by acquiring Toyo Ink Manufacturing's PCB sales and marketing operations, as well as Toyo's computer-aided manufacturing (CAM) product line, which was developed by its Israeli subsidiary EIT. In 1998, Orbotech entered into an agreement with Valor Computerized Systems Ltd. (which is now part of Mentor Graphics), to form Frontline PCB Solutions, a joint venture that develops CAM software for PCB fabrication. Frontline PCB Solutions is owned equally by Orbotech and Mentor Graphics. Entry into the flat panel display market During the 1990s Orbotech started developing a new automatic inception product line to support the new, fast growing, market of Liquid crystal display (LCD) flat panel displays. In 1999, Orbotect acquired Japan's KLA Acrotec from the KLA-Tencor Corporation, which enabled the company to develop a leading position in the LCD Inception market. 2000s In 2001, Orbotech established its own venture capital arm, Orbotech Technology Ventures Ltd., in order to invest in technology start-ups. In 2004, as part of the company’s strategy of diversifying into new growth areas for imaging technologies, Orbotech established a new subsidiary Orbotech Medical Solutions Ltd., to focus on the medical market. In 2005, Orbotech Medical acquired Imarad, a privately held Israeli company that developed a technology to manufacture high performance, solid state cadmium zinc telluride gamma radiation detectors, for $7.0 million; and in 2007 Orbotech Medical acquired 3D Danish Diagnostic Development A/S, a privately held Danish company engaged in the development, manufacture and sale of gamma cameras for use in nuclear cardiac imaging, for approximately $41.0 million. In October 2010, Orbotech entered into an agreement with General Electric in which it sold Orbotech Medical Solutions to a subsidiary of GE, GE Medical Systems Israel Ltd. (formerly Elscint Ltd.). In 2009, Orbotech's Assembly Automated Optical Inspection (AOI) division, which had been started in 1997 by the acquisition of Schuh GmbH, was spun off