Applied Materials Completes Acquisition of Applied Films

Applied Materials Inc. has announced that it has completed the acquisition of Applied Films Corp., a supplier of thin film deposition equipment used in manufacturing flat panel displays, solar cells, flexible electronics and energy-efficient glass.

"This is an important acquisition for Applied Materials that complements and extends our thin film nanomanufacturing technology capabilities and provides a number of exciting opportunities to expand our business into growing new markets," said Mike Splinter, president and chief executive officer (CEO) of Applied Materials.

Applied Films' operations are now part of Applied Materials' new business and new products group, which is managed by Mark Pinto, senior vice president and chief technology officer.

Under the terms of the agreement signed on May 4, 2006, Applied Materials will pay $28.50 per share in cash for each outstanding share of Applied Films common stock, which represents a total purchase price of approximately $464 million, or approximately $300 million net of Applied Films' existing cash and marketable securities. As part of the acquisition, Applied Materials assumed Applied Films' stock options and other equity awards outstanding immediately prior to the closing of the transaction.

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