Applied Materials agreed to acquire Kokusai Electric Corporation for $2.2 billion in cash from global investment firm KKR.
Kokusai Electric specializes in batch processing systems and services for memory, foundry and logic customers.
Applied said these systems complement its portfolio of single-wafer processing systems.
Following the close of the transaction, Kokusai Electric will operate as a business unit of Applied’s Semiconductor Products Group and continue to be based in Tokyo, with technology and manufacturing centers in Toyama, Japan and Cheonan, Korea. The acquisition is expected to be immediately accretive to Applied’s non-GAAP earnings per share at close.
“The opportunity to combine with Applied Materials will be very attractive for Kokusai Electric’s customers and employees alike,” said Fumiyuki Kanai, president and CEO of Kokusai Electric. “We are excited about the opportunity to integrate Kokusai Electric’s experienced team with Applied’s global development, customer support and services capabilities. We believe the combination will accelerate our ability to bring exciting new technologies to customers.”
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