In a quirk of fate, Applied Materials is back in the amorphous silicon thin-film market having acquired Tokyo Electron in a major move to dominate the semiconductor and Flat Panel Display equipment sectors.
Tokyo Electron (TEL) acquired Oerlikon Solar in 2012 for €250 million. The then acquisition was said by the company to be at the core of its business that supported TEL’s next phase of growth.
Applied Materials said that an all-stock combination valued the new combined company at approximately US$29 billion.
Gary Dickerson, president and CEO of Applied Materials, said, “We are creating a global innovator in precision materials engineering and patterning that provides our new company with significant opportunities to solve our customers' high-value problems better, faster and at lower cost. We believe the combination will accelerate our momentum for profitable growth, increase the value we deliver to shareholders and create great opportunities for our employees.”
A shared leadership team has been selected, which has Tetsuro Higashi (TEL) as chairman, and Gary Dickerson (AMAT) will serve as chief executive officer.