KLA-Tencor to buy Therma-Wave for $75M

Semiconductor process control and metrology company Therma-Wave Inc. said that KLA-Tencor Corp., has agreed to acquire Therma-Wave through a cash tender offer for $1.65 per share, or approximately $75 million.

Therma-Wave's board of directors has approved the definitive merger agreement and has recommended KLA-Tencor's offer to shareholders unanimously. The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to close during Q1 of 2007.

"KLA-Tencor has a global reach and in-depth customer relationships that will extend our latest metrology technologies to a broader market," said Boris Lipkin, CEO of Therma-Wave, in a statement. "As part of KLA-Tencor, we can ensure our customers access to KLA-Tencor's global support infrastructure, while collaborating with KLA's skilled product development staff to create innovative new products in several key areas of metrology."

Rick Wallace, KLA-Tencor CEO, said, "This acquisition will expand KLA-Tencor's portfolio of metrology tools, while strengthening our customers' access to Therma-Wave's advanced measurement capabilities."

- Peter Clarke
EE Times Europe