Applied Materials Completes Acquisition of Varian Semiconductor Equipment Associates
(Thomson Reuters ONE) -
* Forms industry's leading supplier of equipment and services for transistor
technologies
* Enhances Applied's capability to support customers in delivering faster,
higher performance, power-efficient chips
* Expands Applied's market with new opportunity approaching $1.5 billion
annually
SANTA CLARA, Calif., November 10, 2011 - Applied Materials, Inc. (Nasdaq: AMAT)
today announced the successful completion of its acquisition of Varian
Semiconductor Equipment Associates, Inc. (Nasdaq: VSEA). The acquisition of
Varian enhances Applied's extensive portfolio with market-leading ion
implantation technology, a market that represents an annual opportunity
approaching $1.5 billion.
"Global demand for mobile devices with higher performance and longer battery
life is fueling new innovations in semiconductor technology focused on the
complex transistors at the heart of next generation chips," said Mike Splinter,
chairman and chief executive officer of Applied Materials. "The combination of
Applied and Varian will create the industry leader in transistor technologies
and allow us to partner with our customers to find innovative solutions for
smaller, faster, power-efficient devices."
The new Varian Semiconductor Equipment business unit is based in Gloucester, MA,
and is led by Bob Halliday, group vice president and general manager. Mr.
Halliday reports to Dr. Randhir Thakur, executive vice president and general
manager of Applied's Silicon Systems Group, which supplies semiconductor
manufacturing technology to every chipmaker around the world.
"Varian's exceptional team and focus on device performance and yield improvement
strongly complement Applied's capabilities," said Dr. Thakur. "Together, we can
significantly enhance our value to customers in helping them with their most
complex challenges to extend Moore's Law far into the future."
On November 10, 2011, Varian became a wholly-owned subsidiary of Applied. As a
result, each outstanding share of Varian common stock (other than shares owned
by Applied or Varian) was automatically converted into the right to receive
$63.00 in cash (without interest). Holders of Varian common stock will receive a
letter of transmittal that will instruct them on how to receive the merger
consideration. Under the terms of the merger agreement, Varian equity awards
were either converted to the right to receive cash or assumed by Applied. The
aggregate purchase price of the merger was approximately $4.2 billion, net of
cash acquired.
Forward-Looking Statements
This press release contains forward-looking statements, including those relating
to the anticipated benefits of the Varian acquisition. These statements are
subject to known and unknown risks and uncertainties that could cause actual
results to differ materially from those stated or implied, including but not
limited to: Applied's ability to successfully integrate Varian's operations,
product lines, technology and employees and realize synergies; the level of
demand for the combined companies' products, which is subject to many factors,
including uncertain global economic and industry conditions, demand for
electronic products and semiconductors, and customers' new technology and
capacity requirements; retention of key employees; and other risks described in
Applied's filings with the Securities and Exchange Commission, including its
most recent Form 10-Q. All forward-looking statements are based on management's
estimates, projections and assumptions as of the date hereof, and Applied does
not undertake any obligation to update any forward-looking statements.
About Applied Materials:
Applied Materials, Inc. (Nasdaq:AMAT) is the global leader in providing
innovative equipment, services and software to enable the manufacture of
advanced semiconductor, flat panel display and solar photovoltaic products. Our
technologies help make innovations like smartphones, flat screen TVs and solar
panels more affordable and accessible to consumers and businesses around the
world. At Applied Materials, we turn today's innovations into the industries of
tomorrow. Learn more at www.appliedmaterials.com.
###
Contact:
Howard Clabo (editorial/media) 408.748.5775
Michael Sullivan (financial community) 408.986.7977
This announcement is distributed by Thomson Reuters on behalf of
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Applied Materials via Thomson Reuters ONE
[HUG#1562912]
Unternehmensinformation / Kurzprofil:
Datum: 10.11.2011 - 14:26 Uhr
Sprache: Deutsch
News-ID 86536
Anzahl Zeichen: 5310
contact information:
Town:
Santa Clara
Kategorie:
Business News
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