Two of the most iconic names in the semiconductor equipment market, Applied Materials and Tokyo Electron have been dropped as part of the merger between the companies.
The yet to be merged companies have a new name in the form of ‘Eteris,’ said to be derived from the concept of eternal innovation for society and not to be confused with other equipment suppliers to the sector such as Entegris and Axelis, or a Lithuanian television channel, Eteris TV.
The financial costs of the name-change and rebranding were not disclosed. The companies expect the merger to be officially completed in the second-half of the year. Both companies have PV related equipment segements.