News !!DJS Mattson Technology Expected To Buy Chip-Making Assets In Strategic Move
NEW YORK -(Dow Jones)- Mattson Technology Inc. agreed to acquire CFM
Technologies Inc. and the chip-making-equipment division of Germany's Steag
Electronic Systems AG for $645.8 million in stock, in a bid to expand its
product lines and increase its market share, Wednesday's Wall Street Journal
reported.
Mattson (MTSN) of Fremont, Calif., said it plans to announce the
transaction today. The company supplies equipment used to heat wafers, deposit
chemicals on wafers and carry out other processes related to making chips. It
said the acquisitions of CFM (CFMT) and the Steag division will allow it to
expand its menu of equipment used to heat wafers. It also said it will be able
to offer machines that clean wafers and use copper as the conductive material
in chips.
Mattson will issue 11.9 million shares of its common stock to Steag and
4.5 million shares to CFM of West Chester, Pa.
Mattson said that as part of the agreement, a patent lawsuit CFM filed
against Steag several years ago will be dropped. Mattson said CFM had received
an injunction enjoining Steag from shipping its products to the U.S.
"You'd be buying a lawsuit if you bought them separately," said Brad
Mattson, chairman and chief executive at Mattson. "Getting one without the
other wouldn't be the solution."
Ludger Viefhues, Steag's chief financial officer, will be president and
chief operating officer at Mattson. He succeeds David Dutton, who will be
president of the group that oversees equipment to apply chemicals to wafers.
CFM CEO Roger Carolin will head the group responsible for equipment used to
clean wafers, and Peter Augustin, Steag's chairman, will head the group making
machines to heat wafers.
At 4 p.m. in Nasdaq Stock Market trading, Mattson was up 6.25 cents at
$39.50, and CFM was down 62.5 cents at $13.75.
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(:CFMT) (:G.RAG) (:G.STG) (:MTSN)
06/27 11:35p CDT |
