Applied Materials to acquire Semitool
Acquisition will help Applied reach new customers and offer new products
Jim Carbone -- Purchasing, 11/17/2009 4:00:31 PM
Electronics giant Applied Materials says it will acquire wafer processing equipment manufacturer Semitool for about $365 million.
Applied Materials, the world's largest producer of chip-making gear, says it would pay $11 a share for all outstanding Semitool stock. The company's Nasdaq closing price was of $8.40 on Monday.
Semitool, based in Kalispell, Mont., builds electrochemical plating and wafer surface preparation equipment which is used by semiconductor suppliers and chip packaging companies. It will be operated as a unit of Applied's Silicon Systems Group.
The acquisition will help Applied offer customers a broader range of products and expands its reach to new customers in the semiconductor packaging industry.
“With this acquisition, Applied will help the world's leading chip makers create ever smaller and more powerful devices," says Mike Splinter, CEO of Applied Materials in Santa Clara, Calif.
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