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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