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Tokyo Electron acquires FSI International for $252.2 million

Posted: 15 Aug 2012 ?? ?Print Version ?Bookmark and Share

Keywords:wafer cleaning equipment? surface preparation equipment? display production? IC production?

FSI International has been purchased by Tokyo Electron Ltd. (TEL), a leading supplier of IC and display production equipment, for $252.5 million.

TEL has offered to pay $6.20 per share, which represents a premium of 53.5 percent over the Aug. 10 closing price for FSI's common shares. TEL plans to complete the deal using its existing cash resources. FSI has been known as a supplier of wafer cleaning and surface preparation equipment.

"This transaction represents a compelling opportunity for FSI shareholders, employees and customers," said Donald Mitchell, chairman and CEO of FSI, in a statement issued by TEL. "By combining the market position, scale and operational excellence of Tokyo Electron with the leading edge surface preparation solutions from FSI we can ensure that semiconductor manufacturers have access to the advanced technology they need for success at 28nm and below."

The deal has been approved unanimously by the boards of both TEL and FSI. The deal is expected to close in calendar 2012 and is subject to customary terms and conditions.

- Peter Clarke
??EE Times

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