Semiconductor manufacturing equipment maker Applied Materials today announced that it will acquire Applied Films to bolster its thin film nano-manufacturing capabilities. Applied Materials will pay $28.50 per share in cash for each outstanding share of Applied Films, which represents a total purchase price of approximately $464 million.
“The acquisition of Applied Films expands our flat panel business to offer color filter products, and opens the fast-growing solar market for us,” said Mike Splinter, president and CEO of Applied Materials. “Both companies have a strong history of developing new and innovative technologies. Together, we expect to speed the development and availability of new products for a variety of emerging applications.”
The companies expect to close the transaction during Applied Materials’ third fiscal quarter of 2006.