Applied Materials to Acquire Kokusai Electric
- Acquisition provides Applied with complementary, leadership batch wafer processing systems business
- Increases Applied’s global services business and strengthens customer support capabilities
- Immediately accretive to non-GAAP EPS upon closing
Following the close of the transaction,
The transaction has been approved by the Applied Materials Board of Directors. The transaction is expected to close within approximately 12 months and is subject to regulatory approvals and other customary closing conditions.
“Kokusai Electric has a strong culture of innovation along with excellent customer relationships and serves fast-growing areas of the wafer fab equipment market,” said
“The opportunity to combine with
Applied expects to finance the transaction using a combination of balance sheet cash and a term loan facility. Following the close of the transaction, the company will prioritize repayment of the term loan balance while maintaining its long-term commitment to return cash to shareholders through dividends and share repurchases.
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This press release contains forward-looking statements, including those regarding Applied's proposed acquisition of
Source: Applied Materials, Inc.