Mergers and Acquistions News
Categories: Semi-Conductors
November 17th 2009, 17:00PM
Semiconductor software and services firm Applied Materials has announced that it is to acquire the outstanding shares of chemical processing equipment manufacturer Semitool.
In an all-cash tender offer, Applied Materials will acquire Semitool for $11 (£6.55) per share, making the former the equipment leader in two fast-growing segments: advanced packaging and the memory industry's conversion to copper.
It is hoped that the combined company will allow Applied Materials to provide its customers with a broader range of products, while extending its reach to the semiconductor packaging industry.
Mike Splinter, chairman and chief executive officer of Applied Materials, said that the recovery of the semiconductor is being fuelled by consumer demand for handheld electronics like music players and smartphones.
"With this acquisition, Applied will help the world's leading chip makers create ever-smaller and more powerful devices," he commented.
Applied Materials recently opened an advanced solar research and customer demonstration facility in Xi'an, China.
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