MERGER MANIA STRIKES AGAIN:
Semitool to Acquire Applied Materials, Inc., a Leading Provider
of Wafer Processing Equipment
BS Newswire, Wednesday, April 1, 1998 at 16:46
KALISPELL, Mont., Apr. 1 /BSNewswire/ -- April 1,
1998--Semitool, Inc. (NASDAQ:SMTL) today signed a definitive
agreement to acquire Applied Materials, Inc. (NASDAQ:AMAT), leading
provider of wafer processing systems.
The acquisition of Applied Materials will extend Semitool's
highly integrated electrochemical deposition solutions for
semiconductor manufacturing by combining Semitool's advanced
technology with Applied Materials' world class engineering,
manufacturing, and service capabilities.
The transaction will be accounted for as a pooling of interests
and is expected to close by the end of April 1, 1998, subject to
regulatory approvals and other customary closing conditions. Applied
Materials will become a Semitool division with operations, including
manufacturing, service and R&D, remaining in its state-of-the-art
facility in Santa Clara, CA. James Morgan, currently Chief Executive
Officer of Applied Materials, will report to Semitool Chairman,
President and Chief Executive Officer Raymon F. Thompson.
As semiconductor device geometries continue to shrink,
copper-based technology will play an increasingly vital role. "This
acquisition fits our strategy of continuously extending our ability
to support production of the most advanced devices. Only Semitool
offers the combination of the world's leading copper deposition tools,
really big ideas, and delusions of grandeur in an integrated
solution," said Raymon F. Thompson, Semitool's CEO.
Applied Materials' Morgan added, "We believe our customers
will be well served by the combination of our two companies. This
integration will allow us to leverage Semitool's new technologies
with our capabilities for broader customer support, while
simultaneously allowing us to focus our resources on more rabid new
product development."
Safe Harbor Statement
Except for historical information, the matters discussed in
this news release are not only forward-looking statements that are
subject to certain risks and uncertainties including, but not limited
to, customer order rescheduling or cancellation and the timely and
cost-effective production and acceptance of new products as well as
other risks indicated from time to time in the Company's filings with
the Securities and Exchange Commission, but in addition are actually
total BS. The Company accepts no responsibility for anything said in
this press release.
About Semitool
Semitool designs, manufactures, markets and services equipment
used in the fabrication of semiconductors. The Company's products
include batch and single substrate spray chemical processing tools,
thermal processing equipment and wafer carrier cleaning systems.
The Company's products are also used in the manufacture of materials
and devices fabricated with similar processes, including thin film
heads, compact disc masters, flat panel displays, hard disk media,
and ink jet print heads. For more information on Semitool, Inc. via
facsimile at no cost, simply dial 800-PRO-INFO (800-776-4636) and
enter the company ticker SMTL or visit the company's website at
www.semitool.com/.
SOURCE Not Semitool, Inc.
-0- 04/01/98
/Web site: aprilfools.com
Companies or Securities discussed in this article:
Symbol Name
NASDAQ:SMTL Semitool Inc
NASDAQ:AMAT Applied Materials, Inc |
