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Applied Materials to Buy Etec.(Brief Article)
Applied Materials (Santa Clara, CA) said it would buy Etec Systems in a stock deal currently valued at about $1.8 billion, its largest acquisition to date. Etec (Hayward, CA) develops technology to make masks, which are used to print circuitry patterns onto silicon wafers, as one of the many steps in the chip- making process.
The companies said that each share of Etec's stock would be exchanged for 0.649 shares of Applied Materials' common stock, valuing Etec's shares at about $82.46, a premium of about 65% to Etec's closing stock price of 49-7/8 on January 12. Based on Applied's closing stock price of 127-1/16 and on Etec's 21.5 million shares outstanding last November, the deal is currently valued at $1.8 billion. The acquisition will be accounted for as a pooling of interests and is expected to close, pending the approval of shareholders and U.S. regulators.
"By combining our expertise in process technology and metrology with the leading supplier ...
- Applied Materials to Acquire Etec Systems in Stock Swap; Applied Materials to...
- Press release article from: Business Wire January 12, 2000 700+ words
...definitive agreement for Applied Materials to acquire Etec in a stock-for-stock...two industry leaders, Etec and Applied Materials, will enable us to...executive officer of Etec Systems. "Applied Materials' global infrastructure...
- Applied Materials Completes Acquisition of Etec Systems; Applied Materials...
- Press release article from: Business Wire March 29, 2000 700+ words
...March 29, 2000 Applied Materials, Inc. announced...acquisition of Etec Systems, Inc...each share of Etec Systems, Inc...shares of Applied Materials' common stock...capabilities of Applied Materials and Etec Systems to our...
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- Newspaper article from: Knight Ridder/Tribune Business News Ladendorf, Kirk January 14, 2000 700+ words
Jan. 13--Applied Materials Inc., the largest maker...Wednesday that it will buy Etec Systems Inc., another...the industry's sales, Etec is involved in photolithography...Applied does not play in. Etec, based in Hayward, Calif...
- Etec Receives ISO 9001 Certification; Commitment to Excellence Earns Quality...
- Press release article from: Business Wire January 23, 2001 700+ words
...Jan. 23, 2001 Etec Systems, Inc., an Applied Materials company and the leading...generation technologies, Etec designs, manufactures...today's electronics. Etec patterning groups are part of the Applied Materials Mask Business Sector...
- Etec Systems, Inc. Announces ALTA 3700 High-Throughput Laser Mask Pattern...
- Press release article from: Business Wire February 29, 2000 700+ words
...WIRE)--Feb. 29, 2000 Etec Systems, Inc. (Nasdaq: ETEC), a leader in patterning...successfully close the merger with Applied Materials. Statements in this release...information in this release. About Etec: Etec Systems, Inc. is a...
- Etec Systems, Inc. Reports Financial Results for Second Quarter Fiscal Year...
- Press release article from: Business Wire February 16, 2000 700+ words
...quarter was a positive one for Etec," stated Steve Cooper, Etec's chairman, president and...successfully close the merger with Applied Materials. Statements in this release...information in this release. About Etec: Etec Systems, Inc. is a...
- Etec Systems Rescinds Share Repurchase Program.
- Press release article from: Business Wire March 27, 2000 700+ words
...successful program for Etec in light of our value today," stated Steve Cooper, Etec's chairman, president...the pending merger with Applied Materials. To help ensure that the...issuer repurchases. About Etec: Etec Systems, Inc...
- Etec Systems Announces New Managing Director for Europe.
- Press release article from: Business Wire September 2, 1999 700+ words
...Averdung will report to Bill Cole, Etec's vice president of sales...Polgar, general manager of the Etec's Semiconductor Products Group...experience." Averdung comes to Etec from Applied Materials, where he served most recently...