more growth--Don what do you think
ATMI To Acquire NOW Technologies; Merger Valued at $44 Million
DANBURY, Conn.--(BUSINESS WIRE)--Feb. 20, 1998--ATMI Inc. (Nasdaq: ATMI), today announced the execution of a definitive merger agreement with NOW Technologies Inc. (NOW).
ATMI hopes to close the transaction during the second quarter of 1998, subject to the approval of the shareholders of NOW and appropriate government agencies and to the satisfaction of other customary conditions.
The agreement provides for NOW to become a subsidiary of ATMI and for the transaction to be accounted for as a "pooling of interests." A maximum of 1.86 million and a minimum of 1.35 million common shares of ATMI would be issued in the merger to the NOW shareholders, although the final number of shares will not be determined until closing. Terry Nagel, founder and CEO of NOW, will continue to serve as president of NOW.
Now is a manufacturer and distributor of semiconductor materials packaging systems. NOW's primary products are based on its patented NOWPak system, which has broad use in packaging advanced photoresist materials. NOW has approximately 100 employees and is based in Bloomington, Minn. NOW's revenues during calendar year 1997 were approximately $15.0 million.
ATMI provides proprietary products and services for semiconductor device manufacture. These products include thin film materials and delivery systems marketed through ADCS, environmental equipment marketed through EcoSys, and thin film deposition services marketed through Epitronics |
